The Impact Of Banking Crises On Money Demand And Price Stability
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The Impact Of Banking Crises On Money Demand And Price Stability
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Author : Maria Soledad Martinez Peria
language : en
Publisher: World Bank Publications
Release Date : 2000
The Impact Of Banking Crises On Money Demand And Price Stability written by Maria Soledad Martinez Peria and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Banks and banking categories.
Policymakers in countries undergoing banking crises should not worry about the structural stability of money demand functions; the behavior of money demand during crises can be modeled by the same function used during periods of tranquility. But policymakers should be aware that in some instances crises can give rise to variance instability in the price or inflation equations.
The Impact Of Banking Crises On Money Demand And Price Stability
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Author : Maria Soledad Martinez Peria
language : en
Publisher:
Release Date : 2016
The Impact Of Banking Crises On Money Demand And Price Stability written by Maria Soledad Martinez Peria and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Policymakers in countries undergoing banking crises should not worry about the structural stability of money demand functions; the behavior of money demand during crises can be modeled by the same function used during periods of tranquility. But policymakers should be aware that in some instances crises can give rise to variance instability in the price or inflation equations.Martinez Peria empirically investigates the monetary impact of banking crises in Chile, Colombia, Denmark, Japan, Kenya, Malaysia, and Uruguay. She uses cointegration analysis and error correction modeling to research:middot; Whether money demand stability is threatened by banking crises.middot; Whether crises bring about structural breaks in the relationship between monetary indicators and prices.Overall, she finds no systematic evidence that banking crises cause money demand instability. Nor do the results consistently support the notion that the relationship between monetary indicators and prices undergoes structural breaks during crises. However, although individual coefficients in price equations do not seem to be severely affected by crises, crises can sometimes give rise to variance instability in price or inflation equations.This paper - a product of Finance, Development Research Group - is part of a larger effort in the group to study banking crises. The study was funded by the Bank's Research Support Budget under the research project Monetary Policy and Monetary Indicators during Banking Crises (RPO 683-24). The author may be contacted at [email protected].
Imf Staff Papers Volume 49 No 3
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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2002-09-23
Imf Staff Papers Volume 49 No 3 written by International Monetary Fund. Research Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-09-23 with Business & Economics categories.
This paper empirically investigates the monetary impact of banking crises in Chile, Colombia, Denmark, Japan, Kenya, Malaysia, and Uruguay during 1975–98. Cointegration analysis and error correction modeling are used to research two issues: (i) whether money demand stability is threatened by banking crises; and (ii) whether crises lead to structural breaks in the relation between monetary indicators and prices. Overall, no systematic evidence that banking crises cause money demand instability is found. The paper also analyzes inflation targeting in the context of the IMF-supported adjustment programs.
Financial Markets And Financial Crises
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Author : R. Glenn Hubbard
language : en
Publisher: University of Chicago Press
Release Date : 1991-08-13
Financial Markets And Financial Crises written by R. Glenn Hubbard and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991-08-13 with Business & Economics categories.
Warnings of the threat of an impending financial crisis are not new, but do we really know what constitutes an actual episode of crisis and how, once begun, it can be prevented from escalating into a full-blown economic collapse? Using both historical and contemporary episodes of breakdowns in financial trade, contributors to this volume draw insights from theory and empirical data, from the experience of closed and open economies worldwide, and from detailed case studies. They explore the susceptibility of American corporations to economic downturns; the origins of banking panics; and the behavior of financial markets during periods of crisis. Sever papers specifically address the current thrift crisis—including a detailed analysis of the over 500 FSLIC-insured thrifts in the southeast—and seriously challenge the value of recent measures aimed at preventing future collapse in that industry. Government economists and policy makers, scholars of industry and banking, and many in the business community will find these timely papers an invaluable reference.
Central Banking In Latin America
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Author : Mr.Luis Ignacio Jácome
language : en
Publisher: International Monetary Fund
Release Date : 2015-03-17
Central Banking In Latin America written by Mr.Luis Ignacio Jácome and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-03-17 with Business & Economics categories.
This paper provides a brief historical journey of central banking in Latin America to shed light on the debate about monetary policy in the post-global financial crisis period. The paper distinguishes three periods in Latin America’s central bank history: the early years, when central banks endorsed the gold standard and coped with the collapse of this monetary system; a second period, in which central banks turned into development banks under the aegis of governments at the expense of increasing inflation; and the “golden years,” when central banks succeeded in preserving price stability in an environment of political independence. The paper concludes by cautioning against overburdening central banks in Latin America with multiple mandates as this could end up undermining their hard-won monetary policy credibility.
How The Republic Of Korea S Financial Structure Affects The Volatility Of Four Asset Prices
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Author : Hong G. Min
language : en
Publisher: World Bank Publications
Release Date : 2000
How The Republic Of Korea S Financial Structure Affects The Volatility Of Four Asset Prices written by Hong G. Min and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Crisis financiera - Corea categories.
How Korea's financial structure affects the volatility of Korea's real effective exchange rate, money market rate, government bond yields, and stock prices.
Monetary Impact Of A Banking Crisis And The Conduct Of Monetary Policy
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Author : Ms.Alicia García-Herrero
language : en
Publisher: International Monetary Fund
Release Date : 1997-09-01
Monetary Impact Of A Banking Crisis And The Conduct Of Monetary Policy written by Ms.Alicia García-Herrero and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-09-01 with Business & Economics categories.
The experiences of seven countries that have undergone banking crises show that crises have significant implications for the short-run stability of the demand for money, the money multiplier, the transmission mechanism, and the signal variables of monetary policy. Monetary and credit instability, coupled with changes in the nature of the monetary and credit aggregates, complicate monetary management. These findings may require redesigning monetary instruments in favor of faster-reacting instruments, such as open market operations, and introducing additional indicators of the monetary stance, such as asset price and exchange rate movements. More frequent reviews of monetary programs may also be necessary.
Recapitalizing Banking Systems
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Author : Patrick Honohan
language : en
Publisher: World Bank Publications
Release Date : 2001
Recapitalizing Banking Systems written by Patrick Honohan and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Bank failures categories.
After a banking crisis, when authorities have decided to use budgetary funds to help restructure a large failed bank or banking system, apparent conflicts between various goals (involving incentives for the new bank management, for the government's budget, and for monetary stability) can be resolved by suitably designing financial instruments and appropriately allocating responsibility between different arms of government.
How Urban Concentration Affects Economic Growth
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Author : J. Vernon Henderson
language : en
Publisher: World Bank Publications
Release Date : 2000
How Urban Concentration Affects Economic Growth written by J. Vernon Henderson and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Cities and towns categories.
If urban overconcentration really is an issue, it ought to affect economic growth rates in a robust, consistent fashion. And it does. Not only is there an optimal degree of urban concentration that varies with country income, but departures from optimal concentration result in substantial growth losses. Overconcentrated countries can reduce concentration by investing in interregional transport infrastructure, in particular, increasing the density of road networks.
Financial Markets In Central And Eastern Europe
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Author : Morten Balling
language : en
Publisher: Routledge
Release Date : 2004-08-02
Financial Markets In Central And Eastern Europe written by Morten Balling and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-08-02 with Business & Economics categories.
This book charts the process of financial market reform in Central and Eastern Europe. Topics discussed will include the implications of future EU membership, and the strategies pursued by the World Bank and International Monetary Fund.