There is a bitter controversy over what drives the housing price in China in the existing literature. In this paper, we investigate the underlying driving force behind housing price fluctuations in China, especially focusing on the role of housing demand shock with that of money supply shock in explaining housing price movements, by a new Keynesian dynamic stochastic general equilibrium model. ...

In the Keynesian model we thought of monetary policy as exogenous in the sense that the money supply, Mt, was set exogenously. This is useful for understanding the model but doesn’t really describe how monetary policy works in practice. In the real world, central banks adjust the money supply (and hence interest rates) endogenously in response to changing conditions. In this set of notes we dis...

HE MULTIPLIER MODEL of the money supply, originally developed by Brunner (1961) and Brunner and Meltzer (1964), has become the standard paradigm in macroeconomics and money and banking textbooks to explain how the policy actions of the Federal Reserve influence the money stock. It also has been used in empirical analyses of money stock control and the impact of monetary policy actions on other ...

This study addresses the issue as monetarist’s claim that inflation is always and everywhere a monetary phenomenon. Using annual data obtained from report of central bank Sri Lanka over period 1977-2019, we tested relationship between real GDP, broad money supply, velocity nominal wages government sector using ARDL technique. Results clearly indicates there long-run short-run other independent ...

Inflation in Sri Lanka has been one of the country’s major macroeconomic issues, especially since 1977. caused due to various factors. The present study analyses demand-driven factors inflation Lanka. time-series data is used identify such factors, applying ARDL technique determine long-run and short-run relationships during 1977-2019 sampling period. X. were real GDP, fiscal deficit, 91-days t...

The research work on supply-chain management has primarily focused on the study of materials flow and very little work has been done on the study of upstream flow of money. In this paper we study the flow of money in a supply chain from the viewpoint of a supply chain partner who receives money from the downstream partners and makes payments to the upstream partners. The objective is to schedul...