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The paper reflects on the phenomenon of the liquidity trap in the U.S. during 2008 - financial crisis. The modern history of economics indentyfied strictly only one such a case: Japan since mid-1990's. The main focus is to collect evidence on the liquidity trap using both: monetary approach and Neo-keynesian.
Marcin Brycz
exaly +3 more sources
Yoji Morita, Shigeyoshi Miyagawa
exaly +3 more sources
Fractional Cointegration And Aggregate Money Demand Functions [PDF]
This paper examines aggregate money demand relationships in five industrial countries by employing a two-step strategy for testing the null hypothesis of no cointegration against alternatives which are fractionally cointegrated.
Caporale, GM, Gil-Alana, LA
core +1 more source
Bayesian Averaging over Many Dynamic Model Structures with Evidence on the Great Ratios and Liquidity Trap Risk [PDF]
A Bayesian model averaging procedure is presented that makes use of a finite mixture of many model structures within the class of vector autoregressive (VAR) processes. It is applied to two empirical issues.
Dijk, H.K. (Herman) van +1 more
core +1 more source
What Germany should fear most is its own fear: An analysis of Target2 and current account imbalances. CEPS Working Document No. 368, September 2012 [PDF]
This paper analyzes two claims that have been made about the Target2 payment system. The first one is that this system has been used to support unsustainable current account deficits of Southern European countries.
De Grauwe, Paul, Ji, Yuemei
core
In this essay an analysis is carried out on the Fisher Effect<br />upon the colombian economy during 1980-2000 taking the quarterly data of nominal interest rate and the inflation rateo Our results show that the nominal interest rate and the ...
Sáenz Castro Jorge Enrique +1 more
doaj
Chinese Monetary Policy and the Dollar Peg [PDF]
This paper investigates to what extent Chinese monetary policy is constrained by the dollar peg. To this end, we use a cointegration framework to examine whether Chinese interest rates are driven by the Fed's policy.
Reade, J. James, Volz, Ulrich
core +2 more sources
During the last years Mexican economy has gone through an intense process of accelerated changes that have brought adjustments on several spheres of economic life.
Bravo Benítez, Ernesto
doaj
Self-Fulfilling Crises in the Eurozone: An Empirical Test. CEPS Working Document No. 366, 22 June 2012 [PDF]
This paper tests the hypothesis that government bond markets in the eurozone are more fragile and more susceptible to self-fulfilling liquidity crises than in stand-alone countries.
De Grauwe, Paul., Ji, Yuemei
core
¿CUÁL ES LA EVIDENCIA EMPÍRICA DEL EFECTO FISHER EN LA ECONOMÍA COLOMBIANA,1980-2000?
En este trabajo se hace un análisis sobre el Efecto Fisher para el caso colombiano durante el período 1980-2000 a partir de la información trimestral de la tasa de interés nominal y de la tasa de inflación.
Héctor Cárdenas +1 more
doaj

