Monetary Policy and Currency Markets
Monetary policy and welfare in a currency union
... set monetary policy at a national level is costly if business cycles are asynchronous across countries, because separate instruments should be used to stabilise ...countercyclical policy with a ...
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Are Proposed African Monetary Unions Optimal Currency Areas? Real, Monetary and Fiscal Policy Convergence Analysis
... According to the economic growth literature (Barro, 1991), conditional convergence depicts convergence whereby, one’s own long-run stable state (equilibrium) is contingent on the different structural characteristics or ...
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Monetary policy flexibility in floating exchange rate regimes : currency denomination and import shares
... of monetary policy is enforced by the share of imports from the base ...optimal policy in an open economy which does not import from the base country but holds assets in the key currency ...
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Are Proposed African Monetary Unions Optimal Currency Areas? Real and Monetary Policy Convergence Analysis
... Single currency unions are expected to provide gains in growth by favoring a breeding atmosphere for competition and efficiency in the banking ...integrated markets to be relatively more efficient than ...
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Currency Board: From Stabilization to Full Dollarization? The Argentine Experience
... and Currency Boards, but ...by currency substitution), semi- official (including authorization to constitute deposits in foreign currency), and official (de ...labor markets, in fiscal ...
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Preferred habitat, policy, and the CIP puzzle
... two policy measures: a daily measure of monetary policy attention, based on Google search data, and a measure of month ahead policy-rate expectations based on futures data, which we use in a ...
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WHAT PROTECT EMERGING MARKETS FROM DEVELOPED COUNTRIES UNCONVENTIONAL MONETARY POLICY SPILLOVER?
... unconventional monetary policy (UMP) from developed countries to the emerging market ...emerging markets’ currency ...financial markets contribute to better ...vulnerable ...
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Exchange Rate Volatility, Currency Substitution and Monetary Policy in Nigeria
... exchange markets in early 2006, measures such as the Fiscal Responsibility Bill, now functional monetary policy committee (MPC), New CBN Act not permitting CBN to grant ways and means advances to ...
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Sovereign debt sustainability, financial repression, and monetary innovation: Britain and currency black markets in the mid 20th century
... One of the strengths of the existing literature is that much of it was written by individuals who could provide first-hand accounts of the events, data, and personalities that shaped this period. One exemplar is Sir Alec ...
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Bernanke Was Right: Currency Manipulation Policy in Emerging Foreign Exchange Markets
... and monetary policy on the ex- change rate movements, while the current paper aims at examining how the exchange rate movements affect the changes in foreign reserves, and measuring the degree of for- eign ...
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Central bank digital currency and monetary policy: a literature review
... of monetary policy transmission mechanism which could resemble dollarisation of the economy, financial stability threats related to currency and duration mismatch in households’ and corporates’ ...
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Optimal Monetary and Fiscal Policy with Migration in a Currency Union
... a currency union, but in a different type of model with nominal rigidities and internal ...a currency union without nominal rigidities and emphasize search and information frictions that generate both a ...
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Who Loses and Who Wins in a Housing Crisis? Lessons From Spain and Greece for a Nuanced Understanding of Dispossession
... 11 increases in public deficits. The Greek State intensified borrowing from financial markets whilst ceasing internal payments for construction works, provoking foreclosures of construction companies and ...
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Fed Policy Expectations and Portfolio Flows to Emerging Markets
... Despite their growing popularity, there are a number of caveats regarding the use of fund flows data (see Brandt et al. 2015). Conceptually, the transactions captured by fund flows are not necessarily capital flows as ...
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Fear of depression Asymmetric monetary policy with respect to asset markets
... turmoil monetary policy responses are of special interest for the academic ...stabilize markets, which now brought world interest rates close to ...when markets stabilized and ...flourishing ...
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The Effect of Easing Monetary Policy in Regional Lending Markets in Japan
... The Effect of Easing Monetary Policy in Regional Lending Markets in Japan Nagano, Mamoru Graduate School of Economics, Nagoya City University... OO OOO OOO OO.[r] ...
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Monetary policy and inequality under household heterogeneity and incomplete markets
... The main challenge in solving the model just described is that the state vector includes the distribution of wealth across households Γ(b, s), which under the assumption of a continuum of heterogeneous agents is an ...
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To devalue or not to devalue? How East European countries responded to the outflow of capital in 1997 99 and in 2008 09
... This type of adjustment is also painful in a sense that it leads to the decline in consumption (net imports declines after devaluation), but domestic prices do not fall (actually, after some time they start to increase, ...
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Do Actions Speak Louder Than Words? The Response of Asset Prices to Monetary Policy Actions and Statements
... 2004, policy meeting led to one of the largest reactions in the Trea- sury market on record, with two- and five-year yields jumping 20 and 25 basis points (bp) respectively in the half-hour surrounding the ...
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Information Guide: European Central Bank
... integrated. Monetary policy in the early years of the euro area, and the novel circumstances, were especially ...European Monetary Institute (the predecessor of the ...The monetary ...
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