Download or read book Financial Innovation and Effectiveness of Monetary Policy written by P. K. Mishra and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the effectiveness of monetary policy in changing financial environments fostered by financial innovations. Financial innovation can make monetary analysis more complex, and modify the monetary policy transmission mechanism. This makes the monetary policy effective only in the short-period.

Download or read book Financial Innovation Deregulation and the Effectiveness of Monetary Policy written by Raymond E. Lombra and published by . This book was released on 1982 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial Innovations written by Federal Reserve Bank of St. Louis and published by Springer. This book was released on 1984-06-30 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Explaining Monetary and Financial Innovation written by Peter Bernholz and published by Springer. This book was released on 2014-06-26 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses theories of monetary and financial innovation and applies them to key monetary and financial innovations in history – starting with the use of silver bars in Mesopotamia and ending with the emergence of the Eurodollar market in London. The key monetary innovations are coinage (Asia minor, China, India), the payment of interest on loans, the bill of exchange and deposit banking (Venice, Antwerp, Amsterdam, London). The main financial innovation is the emergence of bond markets (also starting in Venice). Episodes of innovation are contrasted with relatively stagnant environments (the Persian Empire, the Roman Empire, the Spanish Empire). The comparisons suggest that small, open and competing jurisdictions have been more innovative than large empires – as has been suggested by David Hume in 1742.

Download or read book Financial innovation and monetary policy effectiveness written by Cara S. Lown and published by . This book was released on 1987 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial Innovation and Its Impact on Reserve Bank Policies written by P. K. Mishra and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: It is a stylised fact in the fields of economic growth theory and economic history that innovation is the engine of economic growth. Like the technological innovations, innovations in the financial sector are expected to change all aspects of economic activity, bringing about a greater improvement in economic performance. Rapid financial innovation as a phenomenon in the past decades has changed the array of financial services available to customers, but at the same time, complicated the environment in which Reserve Bank implements its policies. This paper tries to explore the specific impact of financial innovation on the monetary transmission mechanism, and hence the capacity of Reserve Bank to stabilise the economy and promote long-term economic growth. It is an important feature of monetary policy that it is not aimed at the financial system as such, but it uses the financial system as a means of achieving its objectives. Thus, financial innovation exerts effect on monetary policies. Financial innovation puts effect on the policies of Reserve Bank through interest rate, credit and exchange rate channels. And, the analysis drawing on recent financial crisis concludes that the impact of financial innovation on policies of Reserve Bank is only temporary.

Download or read book Financial Innovation written by and published by . This book was released on 1984 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial Innovation Banking and Monetary Aggregates written by A. W. Mullineux and published by Edward Elgar Publishing. This book was released on 1996-01-01 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Innovation, Banking and Monetary Aggregates reviews the impact of financial innovation on the measurement of money and presents the first collection of country studies appraising the usefulness of Divisia indices in deriving monetary aggregates. Monetary aggregates are traditionally formed by simply summing various monetary components such as cash and balances in savings and cheque accounts. The monetary usefulness, or 'moneyness', of these components differs and can change as a result of innovation in banking, monetary transmission and payment services. To gauge the importance of such distortions and the merits of alternative weighted monetary indices, particularly Divisia indices, this volume brings together authoritative empirical studies of countries including the US, the UK, Germany, France, Sweden, Italy and Japan. The authors conclude by showing how Divisia monetary indices act as a useful supplement to traditional monetary aggregates.

Download or read book Financial Innovations and Their Effect on Monetary Policy written by Bruce Clay Burns and published by . This book was released on 1984 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial Innovations written by Daniel P. Brennan and published by Springer. This book was released on 2014-04-20 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial Innovation and the Impact of Monetary Policy in the Caribbean written by Mary G. Zephirin and published by . This book was released on 1996 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Considers in general terms, the transmission mechanisms of monetary policy in open economies, discussing how financial innovations in the sense of widespread changes in the arrangements and instruments available to economic agents, coould affect the effectiveness of the transmission channels. It goes on to look at descriptions of monetary policy in the Caribbean and at some of the innovations documented in Caribbean markets to assess how these may be expected to impact on monetary policy."--Page [i].

Download or read book Financial Innovation Efficiency and Disequilibrium written by Peter D. Spencer and published by Oxford University Press, USA. This book was released on 1986 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetary control has assumed increasing importance in Great Britain as inflationary pressures have intensified and other counter-inflation policies have collapsed. This book is the first complete exposition of the basic Treasury econometric model that was developed for financial cial forecasting and policy analysis. In it, the co-author of the model reviews Britain's experience and analyzes some of the problems that confronted the authorities in their attempts to restrain monetary grown between 1971 and 1981.

Download or read book International Dimensions of Monetary Policy written by Jordi Galí and published by University of Chicago Press. This book was released on 2010-03-15 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous shocks. Such an assumption is increasingly unrealistic in the age of integrated capital markets, tightened links between national economies, and reduced trading costs. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy. In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives. Their findings reveal that central banks continue to influence decisively domestic economic outcomes—even inflation—suggesting that international factors may have a limited role in national performance. International Dimensions of Monetary Policy will lead the way in analyzing monetary policy measures in complex economies.

Download or read book Financial Innovation and Monetary Policy written by Yoshio Suzuki and published by . This book was released on 1986 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial Market Efficiency and the Effectiveness of Monetary Policy written by Michael Woodford and published by . This book was released on 2005 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: A paper presented at the April 2001 conference quot;Financial Innovation and Monetary Transmission,quot; sponsored by the Federal Reserve Bank of New York.

Download or read book Financial Innovation and Monetary Policy written by Michael Pawley and published by Routledge. This book was released on 1993-01-01 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Demand for Money in Developing Countries written by Mr.Peter Wickham and published by International Monetary Fund. This book was released on 1991-05-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditional specifications of money demand have been commonly plagued by persistent overprediction, implausible parameter estimates, and highly autocorrelated errors. This paper argues that some of those problems stem from the failure to account for the impact of financial innovation. We estimate money demand for ten developing countries employing various proxies for the innovation process and provide an assessment of the relative importance of this variable. We find that financial innovation plays an important role in determining money demand and its fluctuations, and that the importance of this role increases with the rate of inflation.