This paper aims to provide a comprehensive analysis of the potential conflicts between macroprudential and monetary policies within DGSE model with financial frictions. The identification is conditional on different types shocks, policy instruments, objectives. We first find that are not systematic but fairly frequent, especially in case supply-side widespread shocks such as investment efficien...

extended distribution of digicash has commercial, socio-economic as well as political effects. from the economic viewpoint, the most crucial effect of digicash use extension takes place on money supply, monetary policies and central bank. because digicash is capable of being replaced by bank notes and the coins, it is possible that digicash gradually takes the place of the central bank money an...

A version of a Townsend turnpike model is described in which agents stay at a location long enough to trade some consumption loans, but not long enough to support an Arrow-Debreu allocation. Monetary equilibria exist which are non-optimal in the absence of a scheme to pay interest on currency at a particular rate. Paying interest on currency at the optimal rate delivers a Pareto optimal allocat...

Monetary policies, either actual or perceived, cause changes in monetary interest rates. These changes impact the economy through financial institutions, which react to changes in the monetary rates with changes in their administered rates, on both deposits and lendings. The dynamics of administered bank interest rates in response to changes in money market rates is thus essential to examine th...

Security guarantees are essential for the outsourced data, wh ich is maintained by third party cloud storage. To achieve s ecurity gu arantees f or t he out sourced data ba ckups, we design and implement a secure overlay cloud storage system called FADE. FADE achieves fine-grained, policy-based access control and file assured deletion. I t associates outsourced files with file access policies, ...