منابع مشابه
Money and Interest Rates
This study describes and reconciles two common, seemingly contradictory views about a key monetary policy relationship: that between money and interest rates. Data since 1960 for about 40 countries support the Fisher equation view, that these variables are positively related. But studies taking expectations into account support the liquidity effect view, that they are negatively related. A simp...
متن کاملMonetary Policy: Why Money Matters and Interest Rates Don’t
Since the late 1980s the Fed has implemented monetary policy by adjusting its target for the overnight federal funds rate. Money’s role in monetary policy has been tertiary, at best. Indeed, several influential economists suggest that money is irrelevant for monetary policy: Central banks effect economic activity and inflation by a) controlling a very shortterm nominal interest rate and b) by i...
متن کاملMoney, Prices, Interest Rates and the Business Cycle
The mechanisms governing the relationship of money, prices and interest rates to the business cycle are one of the most studied and most disputed topics in macroeconomics. In this paper, we first document key empirical aspects of this relationship. We then ask how well three benchmark rational expectations macroeconomic models – a real business cycle model, a sticky price model and a liquidity ...
متن کاملComment on Inside Money, Outside Money, and Short-Term Interest Rates
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متن کاملThe Interactions between the Lending Rates, Deposit Rates and Money Market Rates
T he present paper investigates the impact of the financial crisis on the interaction between the lending rates, deposit rates and money market rates through the process of retail bank interest rate pass-through in the countries of the Euro area. Among our findings is the heterogeneity of bank rate adjustments across sectors, loans and deposits. That was mainly marked during the pre-...
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ژورنال
عنوان ژورنال: Quarterly Review
سال: 2001
ISSN: 0271-5287
DOI: 10.21034/qr.2541