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ECB MONETARY POLICY CONSISTENCY AND INTERBANK INTEREST RATES FORECASTS [PDF]
The European Central Bank has often declared that it has two main monetary policy tools: the official interest rate (Repo) and its communications to the public (the monthly President’s Conferences above all). In this paper an ECB’s reaction function
GIOVANNI VERGA
doaj
Machine Learning Regularization Methods in High-Dimensional Monetary and Financial VARs
Vector autoregressions (VARs) and their multiple variants are standard models in economic and financial research due to their power for forecasting, data analysis and inference. These properties are a consequence of their capabilities to include multiple
Javier Sánchez García+1 more
doaj +1 more source
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&
openaire +2 more sources
Would Monetary Incentives to COVID-19 vaccination reduce motivation? [PDF]
Some people did not get the COVID-19 vaccine even though it was offered at no cost. A monetary incentive might lead people to vaccinate, although existing studies have provided different findings about this effect. We investigate how monetary incentives differ according to individual characteristics.
arxiv
Welfare Cost of Inflation in Iran: A DOLS Approach [PDF]
The purpose of this paper is to study the welfare cost of inflation in Iranian economy by using dynamic models. An increase in inflation rate makes individuals to increase their desired level of real balance which in turn leads to an increase in the ...
Mansour Khalili Araghi+2 more
doaj +1 more source
The Problems of the Non-Tariff Regulation of Foreign Trade Activities in the Conditions of Free Trade Zone between Ukraine and the EU [PDF]
The article is aimed at generalizing the results of establishing the free trade zone between Ukraine and the EU in 2016, and developing measures to improve the system of non-tariff regulation of foreign trade activities. The substance, objectives, and
Рanaseyko Irina M. , Guba Mariya O.
doaj
Quantifying China's Regional Economic Complexity [PDF]
China has experienced an outstanding economic expansion during the past decades, however, literature on non-monetary metrics that reveal the status of China's regional economic development are still lacking. In this paper, we fill this gap by quantifying the economic complexity of China's provinces through analyzing 25 years' firm data.
arxiv +1 more source
Time-Varying Identification of Monetary Policy Shocks [PDF]
We propose a new Bayesian heteroskedastic Markov-switching structural vector autoregression with data-driven time-varying identification. The model selects alternative exclusion restrictions over time and, as a condition for the search, allows to verify identification through heteroskedasticity within each regime.
arxiv
A survey of strategic market games [PDF]
The Strategic Market Game (SMG) is the general equilibrium mechanism of strategic reallocation of resources. It was suggested by Shapley and Shubik in a series of papers in the 70s and it is one of the fundamentals of contemporary monetary ...
Levando Dmitry
doaj +1 more source
Tracing a Faint Fingerprint of the Invisible Hand? [PDF]
Any economic agent constituting the monetary economy maintains the activity of monetary flow equilibration for fulfilling the condition of monetary flow continuity in the record, except at the central bank. At the same time, monetary flow equilibration at one economic agent constantly induces at other agents in the economy further flow disequilibrium ...
arxiv