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Constructing divisia monetary aggregates for Singapore
Barnett, William A.; Nguyen, Van H. - In: Journal of risk and financial management : JRFM 14 (2021) 8, pp. 1-15
Since Barnett derived the user cost price of money, the economic theory of monetary services aggregation has been … money. Is that because quantities of money are irrelevant to economic activity? To examine the role of monetary quantities … Singapore, this paper applies the user cost of money formula and the recently developed credit-card-augmented Divisia monetary …
Persistent link: https://www.econbiz.de/10012626752
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Central bank digital currency and cash in the euro area : current developments and one specific proposal
Rösl, Gerhard; Seitz, Franz - In: Credit and capital markets : Kredit und Kapital 55 (2022) 4, pp. 523-551
-paid scheme combining central elements of TARGET Instant Payment Settlement and electronic money features enabling offline and …
Persistent link: https://www.econbiz.de/10014518599
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Modern money theory : some basics in response to Drumetz/Pfister
Leclaire, Joëlle - In: European journal of economics and economic policies : … 20 (2023) 1, pp. 34-42
This article examines the misconceptions about modern money theory (MMT) put forward by . The author divides her … means-of-payment function of money, that it considers money as a pure asset, that it does not distinguish between inside and … outside money, and that it does not distinguish between money and the monetary base. Second, Drumetz/Pfister (2021) falsely …
Persistent link: https://www.econbiz.de/10014433702
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Size of banks as a factor which impacts the efficiency of the bank lending channel
Świtała, Filip; Kowalska, Iwona; Malajkat, Karolina - In: Financial internet quarterly 16 (2020) 1, pp. 36-44
In most economies the banking sector plays the major role in the financial system. Therefore, it is of great importance to analyse and understand the mechanism of transmission of monetary policy and its impact on the banking sector. One of the possible repercussions of changing the level of...
Persistent link: https://www.econbiz.de/10012197223
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The effect of bank heterogeneity on the interest rate channel in Lebanon
Awdeh, Ali; Jomaa, Zouhour; Kassem, Mohamad - In: Journal of central banking theory and practice 9 (2020) 1, pp. 81-95
The effect of bank heterogeneity on the transmission of monetary policy is capturing an increasing attention, and the debate on how bank specific characteristics may determine their reaction to monetary actions is mounting. This paper participates in this flow of research by studying the...
Persistent link: https://www.econbiz.de/10012167212
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Bank lending channel effectiveness : potential lessons for monetary policy
Świtała, Filip; Kowalska, Iwona; Malajkat, Karolina - In: Journal of banking and financial economics 19 (2023) 1, pp. 160-117
The article supplements the research on the effectiveness of monetary policy transmission - especially through the bank lending channel. The current study focuses on assessing the transmission of monetary impulses through commercial and cooperative banks as well as through individual loan...
Persistent link: https://www.econbiz.de/10014515074
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"Banking systems in the euro zone and transmission of monetary policy"
Fernández Fernández, José Alejandro - In: Central Bank review / Central Bank of the Republic of Turkey 24 (2024) 1, pp. 1-24
This study examines the transmission of monetary policy in the eurozone from 2005 to 2021. The novelty of this research lies in defining the European Central Bank's monetary policy through three dimensions extracted via principal component analysis. These components, examined across various...
Persistent link: https://www.econbiz.de/10014518532
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Modern and traditional methods for measuring money supply : the case of Saudi Arabia
Barnett, William A.; Alkhareif, Ryadh M. - In: International Journal of Financial Studies : open … 3 (2015) 1, pp. 49-55
This paper compares the "simple-sum" monetary aggregates (M1 and M2) published by the Saudi Arabian Monetary Agency (SAMA) with the new monetary aggregates (D1 and D2)-known as the Divisia monetary indexes. The former aggregates are constructed from a simple accounting identity, whereas the...
Persistent link: https://www.econbiz.de/10010499567
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Power theory of exchange and money
Stefanov, Yaroslav - In: Economies : open access journal 10 (2022) 1, pp. 1-16
demonstrated that money is a measure of generalized power in exchange and a certification of generalized power in subsequent …
Persistent link: https://www.econbiz.de/10012800890
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Interest rate pass-through in the Dominican Republic
Grigoli, Francesco; Mota, José M. - In: Latin American economic review : LAER ; official … 26 (2017), pp. 1-25
A well-functioning monetary transmission mechanism is critical for monetary policy. As the Dominican Republic recently adopted an inflation targeting regime, it is even more relevant to guarantee that changes in the monetary policy rates are quickly and fully reflected in retail rates, to...
Persistent link: https://www.econbiz.de/10011885703