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Author : Lukas Altermatt
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (19 download)
Download or read book Three Essays on the Economics of Money, Banking, and Financial Markets written by Lukas Altermatt and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ludwig Van den Hauwe
Publisher : BoD – Books on Demand
ISBN 13 : 2810602212
Total Pages : 188 pages
Book Rating : 4.8/5 (16 download)
Download or read book Three Essays in Monetary Theory written by Ludwig Van den Hauwe and published by BoD – Books on Demand. This book was released on 2009 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent events in international financial markets have revived the scientific interest in conceivable institutional alternatives to prevailing monetary arrangements. In the essays reprinted in this book, the author critically examines some of the more influential arguments which have been made in favour of decentralization in banking.
Author : Xun Xu
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (823 download)
Download or read book Three Essays on Monetary and Financial Economics written by Xun Xu and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : C.J.M Kool
Publisher : Springer Science & Business Media
ISBN 13 : 1461312639
Total Pages : 252 pages
Book Rating : 4.4/5 (613 download)
Download or read book Essays on Money, Banking, and Regulation written by C.J.M Kool and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essays on Money, Banking and Regulation honors the interests and achievements of the Dutch economist Conrad Oort. The book is divided into four parts. Part 1 - Fiscal and monetary policy - reviews a variety of topics ranging from the measurement of money to the control and management of government expenditures. Part 2 - International institutions and international economic policy - looks at the international dimension of monetary and fiscal policy, with extensive discussion of the International Monetary Fund and the European Monetary Union. Part 3 - The future of international banking and the financial sector in the Netherlands - is an insider's view of the strategic choices facing financial institutions in the near future. Finally, Part 4 - Taxation and reforms in the Dutch tax system - is closest to Oort's research and practice since he has become known as an architect of the 1990 Dutch tax reform; this part is dedicated in particular to the tax reforms suggested by Oort.
Author : Martin Shubik
Publisher : MIT Press
ISBN 13 : 9780262693110
Total Pages : 472 pages
Book Rating : 4.6/5 (931 download)
Download or read book The Theory of Money and Financial Institutions written by Martin Shubik and published by MIT Press. This book was released on 1999 with total page 472 pages. Available in PDF, EPUB and Kindle. Book excerpt: This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.
Author : Rochelle Mary Edge
Publisher :
ISBN 13 :
Total Pages : 318 pages
Book Rating : 4.:/5 (493 download)
Download or read book Three Essays on Monetary Economics written by Rochelle Mary Edge and published by . This book was released on 2000 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Haitao Xiang
Publisher :
ISBN 13 :
Total Pages : 230 pages
Book Rating : 4.:/5 (112 download)
Download or read book Three Essays on Monetary Economics written by Haitao Xiang and published by . This book was released on 2010 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The thesis consists of three studies on money, banking and monetary policy with modern monetary economic theory based on explicit micro-foundations. As an introduction to the approach adopted by micro-founded monetary theory, the introductory chapter demonstrates the roles of money and capital in a quasi-linear environment with explicit informational frictions. When capital serves as the only record-keeping device, there could be two possible stationary equilibria: one is first-best and the other is not. In a suboptimal equilibrium, consumers are constrained by their capital rental income. Introducing fiat money, a better record-keeping technology with higher rate of return, can improve welfare by relaxing the liquidity constraint. Chapter 2 studies the role of banking in financing investment. It is revealed that banking can mitigate underinvestment, raise capital-labour ratio, and improve welfare; and this effect is greatest under moderate inflation. In Chapter 3, I introduce a record-keeping cost related to bank borrowing, and study the effects of such a banking cost on economic allocations and welfare, as well as its monetary policy implications. Main findings are: Costly banking emerges endogenously only with relatively high inflation and/or relatively low banking cost; the existence of costly banking may improve or reduce welfare relative to the case without banking; with higher inflation rate or banking cost, more people would choose not to deal with banks, which means larger welfare loss; inflation is less harmful with banking than without banking. In Chapter 4, I investigate the trade-off between distribution effect and production effect of monetary policy with presence of idiosyncratic liquidity shocks. When liquidity shocks are observable, a type-contingent money transfer policy can desirably redistribute purchasing power among consumers. When the shocks are unobservable, an illiquid bond policy restores credit transactions on money through bond-money exchanges. Both policies have positive distribution effect, but the resulting inflation hampers production efficiency. I derive a sufficient condition under which the overall welfare can be improved by an inflationary monetary policy: if consumers are relative-risk-averse enough, the trade-off between distribution efficiency gain and production efficiency loss would result in net welfare enhancement.
Author : Radhika Lahiri
Publisher :
ISBN 13 :
Total Pages : 304 pages
Book Rating : 4.:/5 (375 download)
Download or read book Three Essays in Monetary Economics written by Radhika Lahiri and published by . This book was released on 1997 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sandra Daudignon
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (124 download)
Download or read book Three Essays in Monetary and Financial Economics written by Sandra Daudignon and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first chapter analyses the impact of the central clearing requirement for swaps, which entered into force in 2013, on the derivatives activity of US banks. Part of treated banks, ie banks that are not eligible to the "end-user exception", reallocate their portfolio by substituting OTC interest rate swaps (regulated products) for OTC interest rate options (unregulated products). This suggests that these banks might engage in regulatory arbitrage. The second chapter allows for an integrated natural rate of interest in a new Keynesian mode! and studies its implications for optimal monetary policy under commitment. It shows that systematic increases in the optimal rate of inflation become warranted in response to downward shocks to the long-run natural rate, once this drifts below 1%. Nevertheless a constant price level targeting rule of the form put forward in Eggertsson and Woodford (2003) continues providing a good approximation to optimal commitment, as long as the long-run natural rate remains in positive territory. The third chapter investigates the link between micro-uncertainty, defined as the cross sectional dispersion of firms' idiosyncratic productivity, and the allocation of credit across firms. It analyses the equilibrium of a collateralized debt market where banks and financial investors internet in presence of adverse selection and signaling. The mode) predicts that a jump in micro uncertainty may generate a change of the information regime which may translate into a credit crunch. In this case, a high micro uncertainty restores the efficient allocation of credit as banks finance only high quality projects.
Author : Alexander Light Wolman
Publisher :
ISBN 13 :
Total Pages : 162 pages
Book Rating : 4.:/5 (647 download)
Download or read book Three Essays in Monetary Economics written by Alexander Light Wolman and published by . This book was released on 1996 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kapil Seth
Publisher :
ISBN 13 :
Total Pages : 244 pages
Book Rating : 4.:/5 (826 download)
Download or read book Three Essays in Monetary Economics written by Kapil Seth and published by . This book was released on 1990 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stephen M. Andoseh
Publisher :
ISBN 13 :
Total Pages : 246 pages
Book Rating : 4.:/5 (441 download)
Download or read book Three Essays on Money and Finance written by Stephen M. Andoseh and published by . This book was released on 2000 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Geoffrey Wood
Publisher : Taylor & Francis
ISBN 13 : 1136835326
Total Pages : 332 pages
Book Rating : 4.1/5 (368 download)
Download or read book Monetary and Banking History written by Geoffrey Wood and published by Taylor & Francis. This book was released on 2011-05-11 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Forrest Capie is an eminent economic historian who has published extensively on a wide range of topics, with an emphasis on banking and monetary history, particularly in the nineteenth and twentieth centuries, but also in other areas such as tariffs and the interwar economy. He is a former editor of the Economic History Review, one of the leading academic journals in this discipline. Under the steely editorship of Geoffrey Wood, this book brings together a stellar line of of contributors - including Charles Goodhart, Harold James, Michael Bordo, Barry Eichengreen, Charles Calomiris, and Anna Schwartz. The book analyzes many of the mainstream themes in economic and financial history - monetary policy, international financial regulation, economic performance, exchange rate systems, international trade, banking and financial markets - where historical perspectives are considered important. The current wave of globalisation has stimulated interest in many of these areas as ‘lessons of history’ are sought. These themes also reflect the breadth of Capie’s work in terms of time periods and topics.
Author : Linyuan Cai
Publisher :
ISBN 13 :
Total Pages : 78 pages
Book Rating : 4.:/5 (862 download)
Download or read book Three Essays on Monetary Economics written by Linyuan Cai and published by . This book was released on 2013 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study of monetary economics encompasses a broad range of directions, and this research aims to address several different areas of monetary economics through empirical and theoretical work. The first essay uses annual data from twenty-seven countries to determine whether unexpected inflation has an effect on unexpected output, as suggested by the Lucas Supply Function. Additional specifications are added to show that Lucas' base model is incomplete. Once money level equations were included, the results suggest money affects output through prices, as well as through other means. The second essay seeks to find stable predictors of the money demand function. The money demand function has been unstable since the 1970s, and this study focuses on the definition of money stock and adding measures of risk as solutions in stabilizing money demand. The results show that replacing the traditional measure of money stock (M2) with Money Zero Maturity, in addition to adding market risk and inflation risk to the specification for money demand, stabilizes the money demand function significantly. In this case, we have discovered a money demand function that is stable both in the short run and the long run, according to the LWZ criterion. The third essay attempts to verify Carl Menger's theory on the emergence of money through the observation of an online gaming economy. The results show that, while most of the observations were identical to Menger's theories, one interesting difference has emerged due to modern day technology and communication tools. Menger suggested that the creation of currency was due to trade being extremely unproductive under the "Double Coincidence of Wants," but our observations show that a barter system can coexist with a currency due to technology making search costs almost negligible.
Author : Yong Bang Chung
Publisher :
ISBN 13 :
Total Pages : 322 pages
Book Rating : 4.:/5 (79 download)
Download or read book Three Essays in Monetary Economic Theory written by Yong Bang Chung and published by . This book was released on 1988 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ben S. Bernanke
Publisher : Princeton University Press
ISBN 13 : 0691259666
Total Pages : 352 pages
Book Rating : 4.6/5 (912 download)
Download or read book Essays on the Great Depression written by Ben S. Bernanke and published by Princeton University Press. This book was released on 2024-01-09 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Nobel Prize–winning economist and former chair of the U.S. Federal Reserve, a landmark book that provides vital lessons for understanding financial crises and their sometimes-catastrophic economic effects As chair of the U.S. Federal Reserve during the Global Financial Crisis, Ben Bernanke helped avert a greater financial disaster than the Great Depression. And he did so by drawing directly on what he had learned from years of studying the causes of the economic catastrophe of the 1930s—work for which he was later awarded the Nobel Prize. Essays on the Great Depression brings together Bernanke’s influential work on the origins and economic lessons of the Depression, and this new edition also includes his Nobel Prize lecture.
Author : Jan Toporowski
Publisher : Anthem Press
ISBN 13 : 0857286544
Total Pages : 159 pages
Book Rating : 4.8/5 (572 download)
Download or read book Why the World Economy Needs a Financial Crash and Other Critical Essays on Finance and Financial Economics written by Jan Toporowski and published by Anthem Press. This book was released on 2010-12 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in this volume explain the key structural features of financial inflation that give rise to financial crisis. These features include excessive reliance on finance to maintain economic activity through rising asset prices. Reliance on asset inflation induces a preoccupation with property values and a new social divide between the asset-rich and the asset-poor that undermines the culture of the welfare state. When debt can no longer be supported by cash flow from asset markets, excess debt plunges economies into economic depression.
