Author: Edward K. OffenbacherPublisher:
ISBN:
Category : Credit
Languages : en
Pages : 62
Book Description
Empirical Comparisons of Credit and Monetary Aggregates Using Vector Autoregression Methods
Author: Edward K. OffenbacherPublisher:
ISBN:
Category : Credit
Languages : en
Pages : 62
Book Description
Monetary Transmission Mechanism in the East African Community
Author: Mr.Hamid Reza DavoodiPublisher: International Monetary Fund
ISBN: 1475553498
Category : Business & Economics
Languages : en
Pages : 59
Book Description
Do changes in monetary policy affect inflation and output in the East African Community (EAC)? We find that (i) Monetary Transmission Mechanism (MTM) tends to be generally weak when using standard statistical inferences, but somewhat strong when using non-standard inference methods; (ii) when MTM is present, the precise transmission channels and their importance differ across countries; and (iii) reserve money and the policy rate, two frequently used instruments of monetary policy, sometimes move in directions that exert offsetting expansionary and contractionary effects on inflation—posing challenges to harmonization of monetary policies across the EAC and transition to a future East African Monetary Union. The paper offers some suggestions for strengthening the MTM in the EAC.
The Foundations of Econometrics
Author: Swamy. P. A. V. B.Publisher:
ISBN:
Category : Econometrics
Languages : en
Pages : 64
Book Description
An Examination of Distributed Lag Model Coefficients Estimated with Smoothness Priors
Author: S. S. ThurmanPublisher:
ISBN:
Category : Econometrics
Languages : en
Pages : 46
Book Description
Economic Review
Author: The Flow of Funds in Theory and Practice
Author: J. CohenPublisher: Springer Science & Business Media
ISBN: 9400936753
Category : Business & Economics
Languages : en
Pages : 351
Book Description
The central emphasis in the book is on the transaction and the constraints that its architecture imposes on a discussion of monetary theory and policy. Because of their comprehensiveness and discipline the flow-of-funds accounts are the ideal vehicle for theorizing about real and financial interaction. Such int- action can best be understood when real and financial transac tions are expressed in a common flow dimension. Each decision by economic agents is seen as two-ended in terms of markets: one market supplies the source of funds and the second market absorbs these funds. A matrix of interdependent markets is featured throughout the theoretical discussion. Credit markets, and the bank credit market in particular, become the source of disturbance in the theoretical model, but the necessary involve ment of the money market is also stressed. Theories of finan cial instability and crisis now receiving considerable attention are part of the more general theory of the flow of funds. The rationale for the monetary authority to target credit rather than the monetary aggregates emerges from the analytical discus sion. A flow-constrained analysis clarifies interest-rate deter mination, provides a helpful format for discussing equilibrium and disequilibrium, integrates credit markets with the familiar IS-LM framework, and identifies a class of missing equations in macro-monetary theory. The prototype of the missing equations is an equation explaining monetary dissaving in terms of a series of arguments only one of which will be the stock of real balances or real wealth.
Money, History, and International Finance
Author: Michael D. BordoPublisher: University of Chicago Press
ISBN: 0226066894
Category : Business & Economics
Languages : en
Pages : 288
Book Description
This volume provides a critical evaluation of Anna J. Schwartz's work and probes various facets of the immense contribution of her scholarship—How well has it stood the test of time? What critiques have been leveled against it? How has monetary research developed over the years, and how has her influence been manifested? Bordo has collected five conference papers presented by leading monetary scholars, discussants' comments, and closing remarks by Milton Friedman and Karl Brunner. Each of these insightful surveys extends Schwartz's work and makes its own contribution to the fields of monetary history, theory, and policy. The volume also contains a foreword by Martin Feldstein and a selected bibliography of publications by Anna Schwartz.
The Federal National Mortgage Association in a Changing Economic Environment
Author: United States. General Accounting OfficePublisher:
ISBN:
Category : Adjustable rate mortgages
Languages : en
Pages : 258
Book Description
Author: Frank Lad
Author: