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Monetary Aggregation
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Book Synopsis The Theory of Monetary Aggregation by : W.A. Barnett
Download or read book The Theory of Monetary Aggregation written by W.A. Barnett and published by Elsevier Science Limited. This book was released on 2000-06-30 with total page 712 pages. Available in PDF, EPUB and Kindle. Book excerpt: William Barnett, the coeditor of this volume, introduced modern economic index number theory into monetary economics and this book comprises a focussed and unified collection of his most important publications in this area. It provides a clear and systematic development of the state-of-the-art in monetary and financial aggregation theory.
Book Synopsis Money and the Economy by : Apostolos Serletis
Download or read book Money and the Economy written by Apostolos Serletis and published by World Scientific. This book was released on 2006 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a comprehensive and systematic introduction to the problem of the definition of money and investigates the gains that can be achieved by a rigorous use of microeconomic- and aggregation-theoretic foundations in the construction of monetary aggregates. It provides readers with key aspects of monetary economics and macroeconomics, including monetary aggregation, demand systems, flexible functional forms, long-run monetary neutrality, the welfare cost of inflation, and nonlinear chaotic dynamics.This book offers the following conclusions: the simple-sum approach to monetary aggregation and log-linear money demand functions, currently used by central banks, are inappropriate for monetary policy purposes; the choice of monetary aggregation procedure is crucial in evaluating the welfare cost of inflation; the inter-related problems of monetary aggregation and money demand will be successfully investigated in the context of flexible functional forms that satisfy theoretical regularity globally, pointing the way forward to useful and productive research.
Download or read book Monetary Aggregation written by Huw Pill and published by International Monetary Fund. This book was released on 1994-10-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Book Synopsis Financial Aggregation and Index Number Theory by : William A. Barnett
Download or read book Financial Aggregation and Index Number Theory written by William A. Barnett and published by World Scientific. This book was released on 2011 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book surveys modern literature on financial aggregation and index number theory, with special emphasis on the contributions of the book's two coauthors. In addition to an introduction and a systematic survey chapter unifying the rest of the book, this publication contains reprints of six published articles central to the survey chapter. Financial Aggregation and Index Number Theory provides a reference work for financial data researchers and users of central bank data, placing emphasis on possible improvements in such data from use of the microeconomic index number and aggregation theory.
Download or read book Money and Banking written by A. Vasudevan and published by Academic Foundation. This book was released on 2003 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Commendable Book Edited By Dr. A. Vasudevan, A Leading Monetary Economist, Focuses On Money, Monetary Policy And Banking Issues - Areas In Which The Reserve Bank`S Expertise Is Widely Recognised.
Book Synopsis Financial Innovation, Banking, and Monetary Aggregates by : A. W. Mullineux
Download or read book Financial Innovation, Banking, and Monetary Aggregates written by A. W. Mullineux and published by Edward Elgar Publishing. This book was released on 1996-01-01 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Innovation, Banking and Monetary Aggregates reviews the impact of financial innovation on the measurement of money and presents the first collection of country studies appraising the usefulness of Divisia indices in deriving monetary aggregates. Monetary aggregates are traditionally formed by simply summing various monetary components such as cash and balances in savings and cheque accounts. The monetary usefulness, or 'moneyness', of these components differs and can change as a result of innovation in banking, monetary transmission and payment services. To gauge the importance of such distortions and the merits of alternative weighted monetary indices, particularly Divisia indices, this volume brings together authoritative empirical studies of countries including the US, the UK, Germany, France, Sweden, Italy and Japan. The authors conclude by showing how Divisia monetary indices act as a useful supplement to traditional monetary aggregates.
Book Synopsis Divisia Monetary Aggregates by : M. Belongia
Download or read book Divisia Monetary Aggregates written by M. Belongia and published by Springer. This book was released on 2000-10-06 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: The leading researchers from central banks and universities around the world debate issues central to the performance of Divisia monetary aggregates both in theory and in practice. The overall conclusion is that Divisia monetary aggregates outperform their simple sum counterparts in a wide range of applications the world over. The book is the first volume-length study of empirical data and theoretical research on the subject.
Book Synopsis Divisia Monetary Aggregates and Economic Activities in Asian Developing Economies by : Muzafar Shah Habibullah
Download or read book Divisia Monetary Aggregates and Economic Activities in Asian Developing Economies written by Muzafar Shah Habibullah and published by Routledge. This book was released on 2019-07-09 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1999, this volume examines the role and effects of financial liberalisation in ten deregulated Asian developing countries including Indonesia, Malaysia, Myanmar, Nepal, the Philippines, Singapore, South Korea, Sri Lanka, Taiwan and Thailand. These areas experienced significant financial and economic changes between the ‘financially repressed economies’ of the 1970s through to the 1990s. Muzafar Shah Habibullah approaches this issue in two parts. Part 1 provides empirical evidence of relationships between monetary aggregates, nominal income and price level. In part 2, he offers an early attempt to evaluate the Divisia monetary aggregate as an alternative to the Simple-sum aggregate as an indicator for the financial and economic situation of Asian developing countries.
Book Synopsis Predictive Density Aggregation: A Model for Global GDP Growth by : Francesca G Caselli
Download or read book Predictive Density Aggregation: A Model for Global GDP Growth written by Francesca G Caselli and published by International Monetary Fund. This book was released on 2020-05-29 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we propose a novel approach to obtain the predictive density of global GDP growth. It hinges upon a bottom-up probabilistic model that estimates and combines single countries’ predictive GDP growth densities, taking into account cross-country interdependencies. Speci?cally, we model non-parametrically the contemporaneous interdependencies across the United States, the euro area, and China via a conditional kernel density estimation of a joint distribution. Then, we characterize the potential ampli?cation e?ects stemming from other large economies in each region—also with kernel density estimations—and the reaction of all other economies with para-metric assumptions. Importantly, each economy’s predictive density also depends on a set of observable country-speci?c factors. Finally, the use of sampling techniques allows us to aggregate individual countries’ densities into a world aggregate while preserving the non-i.i.d. nature of the global GDP growth distribution. Out-of-sample metrics con?rm the accuracy of our approach.
Book Synopsis The Implications of Cross-Border Monetary Aggregation by : Mr.Timothy D. Lane
Download or read book The Implications of Cross-Border Monetary Aggregation written by Mr.Timothy D. Lane and published by International Monetary Fund. This book was released on 1992-09-01 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: Some recent studies suggest the possibility of estimating a stable aggregate demand-for-money relationship for the group of countries participating in the European Monetary System. These results are of particular relevance in connection with the task of setting policy targets for a European Central Bank. This paper uses a theoretical error-invariables framework to identify what is gained and what may be lost through cross-border aggregation of money demand. It provides an analytical basis for such studies, paying particular attention to currency substitution and international portfolio diversification.
Book Synopsis Getting it Wrong by : William A. Barnett
Download or read book Getting it Wrong written by William A. Barnett and published by MIT Press. This book was released on 2011-12-16 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: A leading economist contends that the recent financial crisis was caused not by the failure of mainstream economics but by corrupted monetary data constructed without reference to economics. Blame for the recent financial crisis and subsequent recession has commonly been assigned to everyone from Wall Street firms to individual homeowners. It has been widely argued that the crisis and recession were caused by “greed” and the failure of mainstream economics. In Getting It Wrong, leading economist William Barnett argues instead that there was too little use of the relevant economics, especially from the literature on economic measurement. Barnett contends that as financial instruments became more complex, the simple-sum monetary aggregation formulas used by central banks, including the U.S. Federal Reserve, became obsolete. Instead, a major increase in public availability of best-practice data was needed. Households, firms, and governments, lacking the requisite information, incorrectly assessed systemic risk and significantly increased their leverage and risk-taking activities. Better financial data, Barnett argues, could have signaled the misperceptions and prevented the erroneous systemic-risk assessments. When extensive, best-practice information is not available from the central bank, increased regulation can constrain the adverse consequences of ill-informed decisions. Instead, there was deregulation. The result, Barnett argues, was a worst-case toxic mix: increasing complexity of financial instruments, inadequate and poor-quality data, and declining regulation. Following his accessible narrative of the deep causes of the crisis and the long history of private and public errors, Barnett provides technical appendixes, containing the mathematical analysis supporting his arguments.
Book Synopsis Monetary Economics by : Steven Durlauf
Download or read book Monetary Economics written by Steven Durlauf and published by Springer. This book was released on 2016-04-30 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: Specially selected from The New Palgrave Dictionary of Economics 2nd edition, each article within this compendium covers the fundamental themes within the discipline and is written by a leading practitioner in the field. A handy reference tool.
Book Synopsis Theoretic Monetary Aggregation Under Risk Averse Preference by : Piyu Yue
Download or read book Theoretic Monetary Aggregation Under Risk Averse Preference written by Piyu Yue and published by . This book was released on 1995 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary and Financial Statistics Manual and Compilation Guide by : Mr.Jose M Cartas
Download or read book Monetary and Financial Statistics Manual and Compilation Guide written by Mr.Jose M Cartas and published by International Monetary Fund. This book was released on 2017-11-09 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition of Monetary and Financial Statistics Manual and Compilation Guide (Manual) updates and merges into one volume methodological and practical aspects of the compilation process of monetary statistics. The Manual is aimed at compilers and users of monetary data, offering guidance for the collection and analytical presentation of monetary statistics. The Manual includes standardized report forms, providing countries with a tool for compiling and reporting harmonized data for the central bank, other depository corporations, and other financial corporations.
Book Synopsis Advances in Monetary Policy Design by : Ryadh M. Alkhareif
Download or read book Advances in Monetary Policy Design written by Ryadh M. Alkhareif and published by Cambridge Scholars Publishing. This book was released on 2013-10-03 with total page 145 pages. Available in PDF, EPUB and Kindle. Book excerpt: In response to the recent financial crisis, many countries have initiated monetary stimulus packages. Maintaining proper measures of monetary aggregates is of particular importance for such economic policies. However, many central banks worldwide use the simple-sum monetary indexes, which ignore the liquidity characteristics of financial assets. Using the simple-sum indexes can produce misleading information, especially for broad monetary aggregates within which financial assets are not likely to be perfect substitutes. This book focuses on alternative economic stability indicators, and outlines the methods for constructing proper monetary and financial indicators – known as Divisia indexes. The Divisia monetary indexes are designed to measure accurately the liquidity in the economy by assigning different weights to different financial assets according to their usefulness in transactions. This book is highly relevant to economists interested in monetary policy and the construction of core inflation indicators and proper monetary indexes, in accordance with aggregation and index number theory. This book is the first to publish Divisia-based money supply indexes and core inflation indicators for the Gulf Cooperation Council (GCC) countries and for the Gulf Monetary Union. Researchers who use the financial data published by GCC central banks can use our indexes and findings to examine the interactions among the relevant macro-economic variables.
Book Synopsis Currency Substitution and Cross-border Monetary Aggregation by : Timothy David Lane
Download or read book Currency Substitution and Cross-border Monetary Aggregation written by Timothy David Lane and published by . This book was released on 1992 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Monetary Economics by : Jagdish Handa
Download or read book Monetary Economics written by Jagdish Handa and published by Routledge. This book was released on 2008-09-18 with total page 1199 pages. Available in PDF, EPUB and Kindle. Book excerpt: This successful text, now in its second edition, offers the most comprehensive overview of monetary economics and monetary policy currently available. It covers the microeconomic, macroeconomic and monetary policy components of the field. Major features of the new edition include:Stylised facts on money demand and supply, and the relationships betw
