Download or read book Transmissionsmechanismen der Geldpolitik written by Peter Bofinger and published by . This book was released on 1999 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: Die Autoren der Beiträge des Bandes befassen sich mit dem Transmissionsmechanismus in der Geldpolitik. Im Zentrum steht somit die Frage, wie sich geldpolitische Maßnahmen der Notenbanken auf gesamtwirtschaftliche Größen übertragen. G. Winckler und S. Kaufmann untersuchen in ihrem Beitrag den Transmissionsprozeß in kleinen, offenen Volkswirtschaften am Beispiel Österreichs und der Schweiz. Gemäß den geschätzten Resultaten reagierten die Industrieproduktion und das Preisniveau in Österreich erwartungsgemäß verzögert auf Veränderungen der deutschen geldpolitischen Variablen, während sie in der Schweiz von der an der inländischen Geldmenge orientierten Geldpolitik der Schweizerischen Nationalbank beeinflußt werden. Der Aufsatz von P. Bofinger, J. Reischle und A. Schächter analysiert den Geldangebotsprozeß und befaßt sich dabei mit dem sogenannten Kreditansatz. Während die Zentralbank in bisherigen Modellen das Bankensystem vor allem über die Reservepolitik beeinflussen kann, betont der im Artikel vorgestellte preistheoretische Ansatz die Kontrolle der Zentralbank über einen kurzfristigen Zinssatz, wie es auch der gängigen Praxis der Notenbanken entspricht. Davon ausgehend, daß für die geldpolitische Strategie der Europäischen Zentralbank entweder eine Geldmengensteuerung oder eine direkte Inflationssteuerung in Frage kommen, werden im Beitrag von V. Clausen die Eigenschaften diskutiert, die eine Geldnachfrage in einem Regime der Geldmengensteuerung aufweisen sollte. Im empirischen Teil der Arbeit werden die Geldnachfragen sowohl für die einzelnen Mitgliedsländer als auch für die gesamte Europäische Währungsunion geschätzt und auf ihre Stabilitätseigenschaften überprüft. Die Frage, ob die Phillipskurve linear oder konvex ist, steht im Zentrum der Studie von B. Lüscher. Die für die Schweiz präsentierte Evidenz stützt die These einer nichtlinearen Phillipskurve, was der Geldpolitik die Möglichkeit eröffnet, realwirtschaftliche Einflüsse auszuüben. Eine vorausschauende und glaubwürdige Politik, welche die Varianz des Outputs um seinen Trend reduziert, erhöht somit das Durchschnittsniveau des Outputs. D. Domanski und M. Kremer schließlich gehen in ihrem Beitrag auf die Rolle der Aktienpreise für die Geldpolitik ein. Dabei wird der Preisbildungsprozeß am deutschen Aktienmarkt anhand eines Dividend Discount Modells analysiert. Die empirischen Resultate weisen darauf hin, daß die Geldpolitik in Deutschland den Marktteilnehmern eine gute Orientierung ermöglicht und die Erwartungsbildung erleichtert hat.

Download or read book Globalisierung und der Transmissionsmechanismus der Geldpolitik written by Melanie Stahl and published by GRIN Verlag. This book was released on 2008-07-11 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: Diplomarbeit aus dem Jahr 2008 im Fachbereich VWL - Geldtheorie, Geldpolitik, Note: 1,3, Universität Hohenheim (Außenwirtschaft), Sprache: Deutsch, Abstract: Dem Phänomen der Globalisierung und seinen sozialen, politischen und ökonomischen Aspekten wurde in den vergangenen Jahren große Beachtung geschenkt. Die Globalisierung der Weltwirtschaft hat ohne Frage die Rahmenbedingungen für die einzelnen Volkswirtschaften verändert. Die Gewährleistung der Preisstabilität stellt das vorrangige Ziel des Eurosystems wie auch der meisten anderen Notenbanken dar. Aus geldpolitischer Sicht ist deshalb wichtig, ob und wie die Globalisierung Einfluss auf die Erfüllung dieser Aufgabe nimmt. Die Übertragung geldpolitischer Entscheidungen auf die Volkswirtschaft erfolgt über verschiedene Wege, die alle indirekten Einfluss auf die Entwicklung der Preise für Güter und Dienstleistungen haben. Der Prozess, mittels dessen sich monetäre Impulse – häufig mit langer, unterschiedlicher und nicht genau vorhersehbarer Verzögerung – auf Produktion und Preise auswirken, wird als Transmissionsmechanismus der Geldpolitik bezeichnet. Ein gutes Verständnis des geldpolitischen Transmissionsmechanismus ist eine wichtige Voraussetzung für die Umsetzung einer soliden Geldpolitik. Auf diese Weise können nämlich das Ausmaß und der Zeitpunkt geldpolitischer Beschlüsse so getroffen werden, dass die Preisstabilität gewahrt bleibt. Durch die Globalisierung verändern sich die Zusammenhänge in einer Volkswirtschaft, was wiederum Auswirkungen auf den Transmissionsmechanismus der Geldpolitik hat. Hinsichtlich der Identifikation und Interpretation monetärer Transmissionsmechanismen wird immer deutlicher, dass eine globale anstelle einer nationalen Perspektive wichtiger ist. In diesem Zusammenhang meinte Lucas Papademos, der Vizepräsident der europäischen Zentralbank, in einer Rede im vergangenen Jahr: „An improved understanding of the influence of globalisation on the monetary policy transmission mechanism will enhance the analysis underlying our decisions“. Dies macht deutlich, dass dieser Thematik in der wissenschaftlichen Literatur bislang nur am Rande nachgegangen wurde. Ziel dieser Arbeit ist es daher, die Auswirkungen der Globalisierung auf den Transmissionsmechanismus der Geldpolitik zu untersuchen und somit zu einem verbesserten Verständnis auf diesem Gebiet beizutragen. Die Untersuchung konzentriert sich dabei auf Industrieländer. Mit ihrer aktuellen Brisanz kann diese Arbeit als ein Beitrag zur Schließung der Lücke in der wissenschaftlichen Literatur angesehen werden.

Download or read book Universal Economics written by Armen Albert Alchian and published by Liberty Fund. This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Universal Economics is a new work that bears a strong resemblance to its two predecessors, University Economics (1964, 1967, 1972) and Exchange and Production (1969, 1977, 1983). Collaborating again, Professors Alchian and Allen have written a fresh presentation of the analytical tools employed in the economic way of thinking. More than any other principles textbook, Universal Economics develops the critical importance of property rights to the existence and success of market economies. The authors explain the interconnection between goods prices and productive-asset prices and how market-determined interest rates bring about the allocation of resources toward the satisfaction of consumption demands versus saving/investment priorities. They show how the crucial role of prices in a market economy cannot be well understood without a firm grasp of the role of money in a modern world. The Alchian and Allen application of information and search-cost analysis to the subject of money, price determination, and inflation is unique in the teaching of economic principles. No one has ever done price theory better than Alchian -- that is, no one has ever excelled Alchians ability to explain the reason, role, and nuances of prices, of competition, and of property rights. And only a precious few -- I can count them on my fingers -- have a claim for being considered to have done price theory as well as he did it. -- Donald Boudreaux, George Mason University. Armen A. Alchian (19142013), one of the twentieth centurys great teachers of economic science, taught at UCLA from 1958 to 1984. Founder of the UCLA tradition in economics, he has become recognized as one of the most influential voices in the areas of market structure, property rights, and the theory of the firm. William R. Allen taught at Washington University prior to joining the UCLA faculty in 1952. Along with research primarily in international economics and the history of economic theory, he has concentrated on teaching economics. Universal Economics is his third textbook collaboration with Armen Alchian. Jerry L. Jordan wrote his doctoral dissertation under the direction of Armen Alchian. He was Dean of the School of Management at the University of New Mexico, a member of President Reagans Council of Economic Advisors and of the U.S. Gold Commission, Director of Research of the Federal Reserve Bank of Saint Louis, and President and CEO of the Federal Reserve Bank of Cleveland.

Download or read book Hyperinflation Currency Board and Bust written by Jutta Maute and published by Peter Lang Publishing. This book was released on 2006 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally presented as the author's thesis (doctoral)--Universiteat Hohenheim, 2006.

Download or read book Industry Agglomerations and Regional Development in Hungary written by Cordula Wandel and published by Peter Lang. This book was released on 2010 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: In context with the Eastern enlargement of the European Union, this research deals with the effects of pre- and post-enlargement integration policies on industry concentration and regional development in Hungary. Economic processes are analysed empirically and by means of regression analyses with a spatial perspective and in the framework of the new economic geography over a time span of almost two decades. The results for the manufacturing industries and for regional specialization show which economic centres played a role for the economic development of the country over time. The roles which agglomerations and regional specialization can play are discussed with a view to the problems of cohesion in Hungary, the enlarged EU and future EU accession countries. The conclusions also take into account the current political and academic debate regarding European regional policy.

Download or read book Monetary Policy Strategies for Latin America written by Frederic S. Mishkin and published by World Bank Publications. This book was released on 2000 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Instead of focusing the debate about the conduct of monetary policy on whether the nominal exchange rate should be fixed or flexible, the focus should be on whether the monetary policy regime appropriately constrains discretion in monetary policymaking. Three frameworks deserve serious discussion as possible long-run strategies for monetary policy in Latin America. A hard exchange-rate peg, monetary targeting, and inflation targeting.

Download or read book University Economics written by Armen Albert Alchian and published by . This book was released on 1972 with total page 896 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Macroeconomics of Populism in Latin America written by Rudiger Dornbusch and published by University of Chicago Press. This book was released on 2007-12-01 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: Again and again, Latin America has seen the populist scenario played to an unfortunate end. Upon gaining power, populist governments attempt to revive the economy through massive spending. After an initial recovery, inflation reemerges and the government responds with wage an price controls. Shortages, overvaluation, burgeoning deficits, and capital flight soon precipitate economic crisis, with a subsequent collapse of the populist regime. The lessons of this experience are especially valuable for countries in Eastern Europe, as they face major political and economic decisions. Economists and political scientists from the United States and Latin America detail in this volume how and why such programs go wrong and what leads policymakers to repeatedly adopt these policies despite a history of failure. Authors examine this pattern in Argentina, Brazil, Chile, Mexico, Nicaragua, and Peru—and show how Colombia managed to avoid it. Despite differences in how each country implemented its policies, the macroeconomic consequences were remarkably similar. Scholars of Latin America will find this work a valuable resource, offering a distinctive macroeconomic perspective on the continuing controversy over the dynamics of populism.

Download or read book Eurosystem Monetary Targeting written by Glenn D. Rudebusch and published by . This book was released on 1999 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compares the relative performance of monetary targeting and inflation targeting, using a small empirical model of inflation, output, and money estimated on U.S. data.

Download or read book Frontiers in Economics written by Klaus F. Zimmermann and published by Springer Science & Business Media. This book was released on 2013-03-20 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Theory, academic policy analysis and public policy design are becoming more interdependent. Hence, the demands for close interactions between the policy community and the research community have been rising significantly. This book assesses how recent economic thinking has advanced under these influences. Furthermore, it evaluates the important contribution economics can add to the design and evaluation of public policy, now more than ever before. The study is of interest to policy makers, policy analysts, researchers and students of economics at all levels. The authors, which include many of Germany's most eminent economists, draw on their wide experience in research and consultancy to present a coherent view of where European economic theory stands today and how it can play a role in the management of the economy of the new millennium.

Download or read book Zeitschrift f r Wirtschafts und Sozialwissenschaften written by and published by . This book was released on 1999 with total page 710 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book European Firms Financial Structure written by Peter Stahlecker and published by Lucius & Lucius DE. This book was released on 2001 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Deliberate Ignorance written by Ralph Hertwig and published by MIT Press. This book was released on 2021-03-02 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: Psychologists, economists, historians, computer scientists, sociologists, philosophers, and legal scholars explore the conscious choice not to seek information. The history of intellectual thought abounds with claims that knowledge is valued and sought, yet individuals and groups often choose not to know. We call the conscious choice not to seek or use knowledge (or information) deliberate ignorance. When is this a virtue, when is it a vice, and what can be learned from formally modeling the underlying motives? On which normative grounds can it be judged? Which institutional interventions can promote or prevent it? In this book, psychologists, economists, historians, computer scientists, sociologists, philosophers, and legal scholars explore the scope of deliberate ignorance.

Download or read book Konjunkturpolitik written by and published by . This book was released on 1999 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Price Theory and Applications written by Jack Hirshleifer and published by Cambridge University Press. This book was released on 2005-09-12 with total page 638 pages. Available in PDF, EPUB and Kindle. Book excerpt: This seventh edition of the book offers extensive discussion of information, uncertainty, and game theory.

Download or read book The Argentine Currency Board written by Miguel Alberto Kiguel and published by . This book was released on 1999 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Fiscal Multipliers written by Nicoletta Batini and published by International Monetary Fund. This book was released on 2014-10-02 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fiscal multipliers are important tools for macroeconomic projections and policy design. In many countries, little is known about the size of multipliers, as data availability limits the scope for empirical research. This note provides general guidance on the definition, measurement, and use of fiscal multipliers. It reviews the literature related to their size, persistence and determinants. For countries where no reliable estimate is available, the note proposes a simple method to come up with reasonable values. Finally, the note presents options to incorporate multipliers in macroeconomic forecasts.