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Financial Intermediaries and Monetary Economics [PDF]
Abstract We reconsider the role of financial intermediaries in monetary economics, and explore the hypothesis that the financial intermediary sector is the engine that drives the financial cycle through fluctuations in the price of risk. In this framework, balance sheet quantities emerge as a key indicator of risk appetite and, hence, for the “risk ...
Tobias Adrian, Hyun Song Shin
semanticscholar +5 more sources
The Behavioral Economics of Currency Unions: Economic Integration and Monetary Policy [PDF]
We analyze different behavioral models of expectation formation in a multi-country New Keynesian currency union model. Our analyses yield the following robust results. First, economic integration is of crucial importance for the stability of the economic
Akvilė Bertašiūtė+2 more
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Monetary economics from econophysics perspective [PDF]
This is an invited article for the Discussion and Debate special issue of The European Physical Journal Special Topics on the subject "Can Economics Be a Physical Science?" The first part of the paper traces the personal path of the author from ...
Yakovenko, Victor M.
core +2 more sources
Unconventional Monetary Policy: Between the Past and Future of Monetary Economics [PDF]
In this paper we discuss some of the monetary policy issues that have involved major central banks worldwide since the 2008 financial crisis, and which remain open.
Mattia Guerini+2 more
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Some Issues in Monetary Economics [PDF]
PSL Quarterly Review, V. 22, N. 90 (1969)
David I. Fand
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Friedman's Monetary Economics in Practice [PDF]
This paper views the policy response to the recent financial crisis from the perspective of Milton Friedman's monetary economics. Five major aspects of the policy response are: 1) discount window lending has been provided broadly to the financial system, at rates low relative to the market rates prevailing pre-crisis 2) the Federal Reserve&
Edward Nelson, Michelle T. Hutton
openaire +3 more sources
The level of financial inclusion in Ukraine: Measuring access, quality, and usage of financial products and services [PDF]
While financial inclusion is seen as a goal of socio-economic development, there is still no clear understanding of how to measure it. Following this concern, the paper deals with the computation of the financial inclusion index of the Ukrainian economy ...
Yuliia Shapoval+3 more
doaj +1 more source
Effect of financial access on cashless economy: The case of Ukraine [PDF]
The pandemic and wartime in Ukraine confirmed the importance of cashless payments for financial stability. The purpose of the paper is to examine the effect of technological infrastructure and financial access factors on cashless economy development. The
Yevhen Bublyk+3 more
doaj +1 more source