نتایج جستجو برای: run relationship among m1 monetary aggregate
تعداد نتایج: 1788152 فیلتر نتایج به سال:
We develop a general framework to examine how the presence of a monetary transmission mechanism shapes aggregate responses to shocks and the effects of monetary policy. Our framework nests two leading monetary models: a text-book New Keynesian setting and a setting where small transactions costs associated with adjustments in households’ money balances lead to an evolving distribution of money ...
Financial assets are generally chosen for encapsulating wealth effects in empirical work on aggregate consumption, but there is growing interest in tangible wealth, notably housing, as a potential determinant. We estimate consumption functions for the G-5 on a Pooled Mean Group panel basis, which encapsulate roles for both tangible and financial wealth. Results suggest that tangible wealth play...
We use a dynamic factor model to provide semi-structural representation for 101 quarterly US macroeconomic series. find that (i) the economy is well described by number of structural shocks between two and five. Focusing on four-shock specification, we identify, using sign restrictions, policy shocks, monetary fiscal, non-policy demand supply. obtain following results. (ii) Both supply are impo...
This study investigated the asymmetric effects of financial instability shocks on economic growth and monetary policy shocks on financial instability in Iran. For this purpose,data 1991:3 to 2017:1 and nonlinear auto-regressive distributed lag (NARDL) approach has been used. For this purpose, three models have been estimated. In the first model, the asymmetric effects of fiscal instability shoc...
In comparison with other productive sectors of economy, the growth of the industry has become one of the most essential approaches to economic development. This study explores the effects of monetary & fiscal policy shocks on production, employment and wages in the industry sector of Iran’s economy over the period 2004 - 2017. In this research, using time series data and econometrics technique...
How should central banks conduct and communicate their policies to serve the goal of stabilizing the macroeconomy? This thesis – consisting of three self-contained essays on dynamic macroeconomics – is mainly intended as a progress report on exploring the normative aspect of monetary policy. The main result of the first essay is, that in the presence of idiosyncratic risk, the public revelation...
Money supply and velocity of money are important variables that affect inflation and product. Velocity of money is a key concept for economic policy, and it's getting more important since it is closely related to behavior of the demand for money. In this regard, Friedman believes that the volatility of money growth is the main factor of velocity of money, which in monetary economics literature ...
Monetary policy is a blunt instrument with which to smooth aggregate volatility. I demonstrate that there is actually very little correlation between how much real state income responds to monetary policy and to shocks that prompt aggregate smoothing by the Federal Reserve. This mismatch turns out to be strong enough to imply that while monetary policy might have reduced the variance of aggrega...
Abstract This study extends the monetary model of exchange rate by incorporating news-based domestic and US economic policy uncertainties (EPUs). We consider 12 developed developing economies use monthly data covering 2000:M1 to 2017:M2. The extended is estimated panel quantile regression Machado Santos Silva (2019) Pesaran (2006) common correlated effects within linear nonlinear ARDL framework...
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