Three Essays On Monetary Policy
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Three Essays On Monetary Policy In A Small Open Economy
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Author : Sarbari Banerjee-Rothe
language : en
Publisher:
Release Date : 2001
Three Essays On Monetary Policy In A Small Open Economy written by Sarbari Banerjee-Rothe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with categories.
Three Essays On Monetary Policy
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Author : Kyuil Chung
language : en
Publisher:
Release Date : 2005
Three Essays On Monetary Policy written by Kyuil Chung and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
Three Essays On Monetary Policy And Financial Development
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Author : Xiaodai Xin
language : en
Publisher:
Release Date : 2004
Three Essays On Monetary Policy And Financial Development written by Xiaodai Xin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Debts, External categories.
Abstract: Both economic growth and stabilization require a well-functioning financial system, which includes the central bank and private financial institutions. This dissertation is comprised of three essays on monetary policy and financial development which are related to the roles of the central bank and private financial institutions. To better stabilize the economy, a central bank needs to formulate an optimal strategy for monetary policy and pursues an appropriate objective (targeting regime). In a forward-looking New Keynesian model with persistent output and inflation, the first essay (chapter 2) evaluates a broad hybrid targeting regime when the central bank operates under discretionary monetary policy. By employing the numerical analysis and comparing the performance of different targeting regimes, I find that the hybrid targeting regime yields a social loss closest to that under the optimal committed policy, generating a better outcome than other policy regimes. The second essay (chapter 3) provides new micro-level evidence for the positive relationship between financial development and economic growth based on a large sample of cross-country firm-level data. By examining an important micro channel through which financial development reduces the costs of external finance to firms, I find that firms that are more externally dependent grow faster in countries with more developed financial systems. The third essay (chapter 4) investigates the impact of external debt on long-term investment and its interaction with domestic financial intermediation in emerging markets. Extending the Ramsey-Cass-Koopmans model to a small open economy with the role of financial intermediation, I find that the overall effect of a high level of external debt on investment depends heavily on the degree of domestic financial intermediation. Using a large sample of panel data on 76 developing countries over the last three decades, the empirical results indicate that when a country's domestic banking sector develops to a certain degree, the high level of external debt facilitates investment.
Three Essays On Monetary Policy
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Author : David B. Gordon
language : en
Publisher:
Release Date : 1994
Three Essays On Monetary Policy written by David B. Gordon and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Monetary policy categories.
Three Essays In Monetary Theory
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Author : Ludwig Van den Hauwe
language : en
Publisher: BoD – Books on Demand
Release Date : 2009
Three Essays In Monetary Theory written by Ludwig Van den Hauwe and has been published by BoD – Books on Demand this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Monetary policy categories.
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.
Three Essays In Monetary Policy
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Author : Alessandro Flamini
language : en
Publisher:
Release Date : 2008
Three Essays In Monetary Policy written by Alessandro Flamini and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.
This thesis consists of three papers on monetary policy. The first analyzes how endogenous imperfect exchange rate pass-through affects inflation targeting optimal monetary policies in a New Keynesian small open economy. The paper shows that an inverse relation exists between the pass-through and the insulation of the economy from foreign and monetary policy shocks, and that imperfect pass-through tends to decrease the variability of the terms of trade. The second paper focuses on optimal monetary policy in presence of uncertainty of the structural parameters in an open economy. Comparing CPI and domestic inflation targeting, it shows that the latter implies considerably less variability in the distribution forecast of the economic dynamics. The third paper argues that estimated linear monetary policy rules are weighted averages of the actual rules working in the diverse monetary regimes, where the weights merely reflect the length and not necessarily the relevance of the regimes.
Three Essays On Monetary Policy
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Author : Thomas Lauback
language : en
Publisher:
Release Date : 1997
Three Essays On Monetary Policy written by Thomas Lauback and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with categories.
Three Essays On The Behavior Of Monetary Policy
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Author : Michael T. Owyang
language : en
Publisher:
Release Date : 2000
Three Essays On The Behavior Of Monetary Policy written by Michael T. Owyang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Inflation (Finance) categories.
Three Essays On Monetary Policy
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Author : Matthew Schaffer
language : en
Publisher:
Release Date : 2018
Three Essays On Monetary Policy written by Matthew Schaffer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Electronic dissertations categories.
Three Essays On Monetary Policy
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Author : Xu Zhang
language : en
Publisher:
Release Date : 2019
Three Essays On Monetary Policy written by Xu Zhang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
This dissertation studies the identification of monetary policy and the effects of monetary policy on the macroeconomy. Chapter 1 provides a new methodology to identify monetary policy shock. Federal Reserve announcements contain information about both economic fundamentals and monetary policy. My paper proposes to disentangle the information effects using Federal Reserve's forecasts about the macroeconomy and constructs a new measure of monetary policy shocks. The new shock series is consistent with the traditional view. Chapter 2 investigates the effects of unconventional monetary policy when the nominal interest rate reaches the zero lower bound. There are two types of monetary policy, i.e. forward guidance and large-scale asset purchases. I identify the separate contributions of each monetary policy shock to the effects on yield curve and macroeconomy. Chapter 3 studies the effects of monetary policy on the household behavior. I look at how households with heterogeneous balance sheet composition would make their decisions in response to monetary policy interventions, and to what extent and this could affect the aggregate economy. I provide empirical analysis using household-level data, and document empirical stylized facts that can be used to evaluate different theoretical transmission channels of monetary policy.