Monetary integration and inflation preferences: A real options analysis
نویسندگان
چکیده
منابع مشابه
Integration of Real and Monetary Sectors
This is the third paper of a series of macroeconomic modeling that tries to model macroeconomic dynamics on the basis of the principle of accounting system dynamics developed by the author. Money supply and creation processes of deposits were modeled in the first paper, while second paper built dynamic determination processes of GDP, interest rate and price level. In this paper, these two separ...
متن کاملIncorporating Risk Preferences into Real Options Models
This paper develops a framework to link the expected utility analysis to real options models in order to capture the joint effects of risk aversion and irreversibility associated with real investments. It aims at modifying the theory of investment under uncertainty by incorporating decision makers’ risk preferences and allows explicitly analyzing the impacts of risk aversion, uncertainty and ir...
متن کاملMergers and market valuation: real options approach
This paper investigates the connection between market valuation anda type of the merger (stock, cash) using real options setup. I solveexplicitly for the timing and terms of cash mergers in two deferent settingsto demonstrate that cash mergers generally occur at low marketvaluations, whereas stock mergers that may be observed at both low andhigh valuations; the result holds with some dierences ...
متن کاملMonetary Policy and Inflation Targeting
In the 1990s, several countries shifted to a new monetary policy regime: an announced quantitative inflation target. The reason for this shift was the unsatisfactory performance under previous regimes. New Zealand, Canada, Australia, and Spain all introduced inflation targets under persistently high inflation; the United Kingdom, Sweden, and Finland did so after having abandoned fixed exchange ...
متن کاملMonetary Policy and Inflation Targeting
On 21–22 July 1997, the Bank convened a conference entitled, 'Monetary Policy and Inflation Targeting'. The following excer pt is the introductory chapter of the conference volume. Medium-term price stability is widely accepted as the appropriate ultimate goal for monetary policy. This reflects two ideas. The first is that high rates of inflation distort decision-making, ultimately leading to s...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: European Economic Review
سال: 2005
ISSN: 0014-2921
DOI: 10.1016/j.euroecorev.2003.08.002