The Implications Of Cross Border Monetary Aggregation

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The Implications Of Cross Border Monetary Aggregation

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Author : Mr.Timothy D. Lane
language : en
Publisher: International Monetary Fund
Release Date : 1992-09-01

The Implications Of Cross Border Monetary Aggregation written by Mr.Timothy D. Lane 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 1992-09-01 with Business & Economics categories.

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.

Currency Substitution And Cross Border Monetary Aggregation

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Author : Mr.Timothy D. Lane
language : en
Publisher: International Monetary Fund
Release Date : 1992-10-01

Currency Substitution And Cross Border Monetary Aggregation written by Mr.Timothy D. Lane 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 1992-10-01 with Business & Economics categories.

Is there a stable aggregate money demand relationship for Europe? If so, why, and if not, why not? These questions are important for the implementation of policy by a European central bank, as well as for the appropriate speed of transition to EMU. This paper addresses them in a multi-country empirical study of money demand for the G-7 countries during the period since 1973. It looks for evidence of currency substitution and tests the restrictions implied by cross-border aggregation within Europe.

The Implications Of Cross Border Monetary Aggregation

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Author : Jeroen J. M. Kremers
language : en
Publisher:
Release Date : 1995

The Implications Of Cross Border Monetary Aggregation written by Jeroen J. M. Kremers and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with Europe categories.

Cross Border Deposits And Monetary Aggregates In The Transition To Emu

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Author : Mr.Carlo Cottarelli
language : en
Publisher: International Monetary Fund
Release Date : 1991-11-01

Cross Border Deposits And Monetary Aggregates In The Transition To Emu written by Mr.Carlo Cottarelli 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 1991-11-01 with Business & Economics categories.

This paper discusses the effect of cross-border deposits (CBDs) for the stability of the relation between monetary aggregates and nominal GDP in the five largest EC countries. The analysis is developed in terms of “information content” of alternative money definitions (including or excluding selected subsets of CBDs), derived from a multicountry simultaneous system of money demand equations. We show that in the most recent period traditional money aggregates have lost information value and that they are dominated by alternative money definitions that include CBDs, such as those based on the residency of the holder or on the currency of denomination.

The Implications Of Cross Border Monetary Aggregation

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Author : Jeroen J.M.; Lane Kremers (Timothy D.)
language : fr
Publisher:
Release Date : 2004

The Implications Of Cross Border Monetary Aggregation written by Jeroen J.M.; Lane Kremers (Timothy D.) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.

The Implications Of Cross Border Monetary Aggregation

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Author : Jeroen Kremers
language : en
Publisher:
Release Date : 2006

The Implications Of Cross Border Monetary Aggregation written by Jeroen Kremers and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.

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-in-variables 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.

Imf Staff Papers

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Author : International Monetary Fund. Research Dept.
language : en
Publisher: International Monetary Fund
Release Date : 1992-01-01

Imf Staff Papers 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 1992-01-01 with Business & Economics categories.

This paper examines market liberalization policies in a reforming socialist economy. The aim of this paper is to develop a model of such a reforming socialist economy and to explore the consequences of market-oriented policies in the context of such an economy. A model of a socialist economy is presented, incorporating bargaining over wages and employment in the socialized sector and shortages that are reflected in the black market. The model is used to analyze the implications of liberalization policies, including trade liberalization, an administered price increase, and provisions allowing for increased direct foreign investment. The nonsocialized sector is perfectly competitive and produces an output that is different from that of the socialized sector. It has a neoclassical production function using a sector-specific input (say, capital) and labor. The results suggest that reforms may have different effects under different trade regimes and that small price reforms may have perverse effects.

The Impact Of Unconventional Monetary Policy Measures By The Systemic Four On Global Liquidity And Monetary Conditions

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Author : Ms.Yevgeniya Korniyenko
language : en
Publisher: International Monetary Fund
Release Date : 2015-12-30

The Impact Of Unconventional Monetary Policy Measures By The Systemic Four On Global Liquidity And Monetary Conditions written by Ms.Yevgeniya Korniyenko 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 2015-12-30 with Business & Economics categories.

The paper examines the impact of unconventional monetary policy measures (UMPMs) implemented since 2008 in the United States, the United Kingdom, Euro area and Japan— the Systemic Four—on global monetary and liquidity conditions. Overall, the results show positive significant relationships. However, there are differences in the impact of the UMPMs of individual S4 countries on these conditions in other countries. UMPMs of the Bank of Japan have positive association with global liquidity but negative association with securities issuance. The quantitative easing (QE) of the Bank of England has the opposite association. Results for the quantitative easing measures of the United States Federal Reserve System (U.S. Fed) and the ECB UMPMs are more mixed.

Research Activities Of The Imf January 1991 December 1998

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 1999-09-24

Research Activities Of The Imf January 1991 December 1998 written by International Monetary Fund 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 1999-09-24 with Business & Economics categories.

A selective index of major research papers prepared by IMF staff in 1991-98.

Research Activities Of The Imf January 1991 December 1999

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2000-01-01

Research Activities Of The Imf January 1991 December 1999 written by International Monetary Fund 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 2000-01-01 with Business & Economics categories.

Research activity in the IMF emphasizes the links between the organization's policy and operational concerns. The main objectives of research is IMF staff understanding of policy and operational issues relevant to the institution, and to improve the analytical quality of the work prepared for management and the Executive Board and the advice provided to member countries. The scope of research in the IMF is defined by the purposes and functions of the institution. In order to foster innovation and ensure quality control, the IMF makes much of its research available outside the institution and encourages staff to interact with academia and other research organizations through conferences, seminars, and occasional joint research projects. The visiting scholar’s program has also enhanced the quality of research done in the IMF. This program brings in leading members of the economics profession from around the world to assist in the preparation of papers for the Executive Board and to conduct research on IMF-related issues.