Download or read book Essays in Monetary Economics and Monetary Policy microform written by Kevin Moran and published by Ann Arbor, Mich. : University Microfilms International. This book was released on 2000 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in Monetary Economics written by Harry Gordon Johnson and published by London : Allen & Unwin. This book was released on 1967 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Further Essays in Monetary Economics Collected Works of Harry Johnson written by Harry Johnson and published by Routledge. This book was released on 2013-07-18 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: A sequel to Essays in Monetary Economics, this book develops the ideas on domestic and international monetary issues, with reference to specific events and crises of the 1960s and 70s. These essays are distinguished by the author’s expert grasp of the analytical techniques and contemporaneous policy problems of both domestic and international monetary economics.

Download or read book Essays in Monetary Economics written by Harry G. Johnson and published by Ashgate Publishing. This book was released on 1993-11 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume brings together the late Harry Johnson's essays and articles in monetary economics. It is specifically designed for teaching purposes. Part 1 deals with pure monetary theory. Part 2 looks at monetary and fiscal policy issues in North America. Part 3 looks at developing countries.

Download or read book Selected Essays in Monetary Economics written by Harry Gordon Johnson and published by . This book was released on 1978 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Four Essays on the Theory of Monetary Policy microform written by Hamza Ali Malik and published by Library and Archives Canada = Bibliothèque et Archives Canada. This book was released on 2004 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation focuses on the construction of macroeconomic models that can be used to evaluate monetary policy. The theoretical models developed for this purpose emphasize the importance of intertemporal optimizing behaviour, the role of expectations and nominal price rigidities.

Download or read book Three Essays in Monetary Theory written by Ludwig Van den Hauwe and published by BoD – Books on Demand. This book was released on 2009 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Essays in Monetary Economics and Economic Development written by Alexander Rathke and published by . This book was released on 2011 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays in Monetary and Financial Economics written by Liang Ma and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of three essays in the field of monetary and financial economics. Specifically, we use high-frequency financial data to study monetary policies with a focus on the information effect, namely, that some of the interest rate movements around central bank announcements are not policy-driven, but are results of the market becoming aware of the central bank's view about future economic prospects. Understanding the role played by the information effect will help us apprehend monetary policy implications in both normal times and extraordinary situations. Chapter 1 evaluates the impact of unconventional monetary policy in the newly developed instrumental variable structural Vector Autoregression (VAR) framework. In the current low interest rate environment, central banks must resort to using unconventional monetary policies, such as forward guidance and quantitative easing, to flight recessions. To empirically evaluate the effectiveness of these unconventional policies, we need to rely on the clean policy shock. A prominent concern is that the often used high-frequency interest rate surprises not only reflect unexpected policy changes, but also contain the information effect. We contribute to the literature by using a heteroskedasticity identification approach, taking advantage of changes in the relative dominance of economic shocks around different macroeconomic announcements. Analysis based on clean policy shocks suggests that the unconventional policies successfully aided the recovery in the U.S. More importantly, we show that the information effect, while it may introduce bias, is rather modest when it comes to estimating the real impact of unconventional monetary policies. Chapter 2 studies the stock return pattern after the U.S. Federal Open Market Committee (FOMC) announcement. This research is motivated by recent literature that documents stock returns drifts, both before and after FOMC announcements, according to policy rate surprises. Indeed, research has shown that the information contained in the central bank announcement is multifaceted: its current monetary policy stances (monetary policy news) and news about future economic prospects (non-monetary policy news). Our contribution is to combine these two strands of literature. To the best of our knowledge, no study has looked at stock market reactions to the non-monetary news stemming from policy announcements. We identify both good and bad news events using a combination of sign restriction with high-frequency financial prices. The novel finding is that following bad FOMC announcements, that is the market interpreted the Fed announcements as revealing negative information about the economy, we observe significant positive stock returns in a 20-day period. We call this the ``post-FOMC drift.'' Further analysis suggests that the drift is likely caused by relatively heightened risks associated with bad announcements, although the drift is consistent with market overreactions as well. Moreover, the post FOMC drift is a market-wide phenomenon and can be exploited in an easy-to-implement trading strategy with a historical record of earning 40\% of the annual equity premium. In Chapter 3, we explore the channels through which the FOMC announcements affect the financial market. While much of the existing literature measures the surprise components with only changes in policy rates (surrounding the announcement), we contribute to the existing literature by taking a broader view through examining unexpected changes in longer-term yields, corporate credit spreads, and inflation expectations (a proxy for growth prospects), using high-frequency financial data. Through a regression analysis, our findings show that these additional surprises provide orthogonal information and sharply increase the goodness of fit in explaining stock returns around FOMC announcements, with the inclusion of inflation expectations having the biggest contribution. The important role of inflation expectation suggests that the current literature, which uses stock prices together with nominal rates to disentangle the information contents of central bank announcements, may be too limited in the scope of information it uses.

Download or read book Monetarism and the Methodology of Economics written by Kevin D. Hoover and published by Edward Elgar Publishing. This book was released on 1995 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monetarism and the Methodology of Economics is a collection of 14 original essays in honour of Thomas Mayer focusing on the themes of monetarism, the transmission mechanism for monetary policy, the political economy of monetary policy and the methodology of empirical economics. This volume addresses the many areas where Thomas Mayer has made a major contribution and brings together a distinguished group of contributors including King Banaian, Mark Blaug, Martin Bronfenbrenner, Richard C.K. Burdekin, Thomas F. Cargill, Milton Friedman, C.A.E. Goodhart, D. Wade Hands, Abraham Hirsch, Kevin D. Hoover, David Laidler, Thomas Mayer, James L. Pierce, Steven M. Sheffrin, Richard J. Sweeney, Thomas D. Willett, Wing Thye Woo. An autobiographical essay by Thomas Mayer and a short appreciation by Kevin Hoover and Steven Sheffrin are included in this volume, together with a bibliography of Mayer's economic writings.

Download or read book Essays on the Analysis of Changes in the Conduct of Monetary Policy microform written by Boivin, Jean and published by Ann Arbor, Mich. : University Microfilms International. This book was released on 2000 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Aspects of the Pathology of Money Monetary Essays from Four Decades written by Michael Angelo Heilperin and published by . This book was released on 1968 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Critical Essays in Monetary Theory written by John Hicks and published by . This book was released on 1967 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Critical Essays in Monetary Theory written by John Richard Sir Hicks and published by . This book was released on 1972 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Taking Money Seriously and Other Essays written by David E. W. Laidler and published by Cambridge, Mass. : MIT Press. This book was released on 1990 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Putting the matters back into money matters is David Laidler's intent in this collection of ten essays on the role of monetary institutions in the development of monetary theory and the implications of these ideas for policy. Together, the essays provide a coherent and accessible introduction to the power and range of thinking by one of the world's leading monetary economists. In Taking Money Seriously Laidler seeks to develop and sustain monetarist ideas of the 1960s in relationship to the new classical economics and to argue their continued policy relevance. Money matters, he points out, because monetary exchange rather than the Walrasian market coordinates economic activity in the real world. Laidler's discussion of the costs of inflation points up the importance of money's means-of-exchange role and is followed by an extended critique of new classical economics. He devotes several chapters to policy issues, in which he asserts that the monetary system is a public good whose organization and control present inherently political problems. David Laidler is Professor of Economics at the University of Western Ontario.

Download or read book Fundamentals of International Monetary Policy written by Frank D. Graham and published by . This book was released on 1964 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fundamentals of International Monetary Policy written by Frank Dunstone Graham and published by . This book was released on 1968 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: