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Does Bitcoin Behave As a Currency?: A Standard Monetary Model Approach
International Review of Financial Analysis, 2020We derive the Bitcoin exchange rate dynamics by solving the exchange rate equation of the standard flexible-price monetary model to investigate any characteristics of Bitcoin like a currency.
C. Hui, C. Lo, P. Chau, Andrew Wong
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The Monetary Policy Model [PDF]
Business Economics, 2006 Most monetary economists today conduct their analysis within some version of a rational expectations model. A well-defined equilibrium in such a model requires that the private sector understand policy goals and the policymakers' model of the economy.
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2021
This last chapter deals with the toolbox that central banks use to design and implement their monetary policy strategy. Central banks develop various types of model, both for forecasting and for policy analysis. The chapter discusses the main characteristics of the models used, their strengths and limitations. It assesses how dynamic stochastic general
Juan Antonio Morales, Paul Reding
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This last chapter deals with the toolbox that central banks use to design and implement their monetary policy strategy. Central banks develop various types of model, both for forecasting and for policy analysis. The chapter discusses the main characteristics of the models used, their strengths and limitations. It assesses how dynamic stochastic general
Juan Antonio Morales, Paul Reding
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Brookings Papers on Economic Activity, 2007 Some History I HAVE WRITTEN SEVERAL Brookings Papers looking at the relation of multiple-equation economic models to the process of monetary policy-making. (1) When the first of these papers was written, the impact of the rational expectations critique in undermining academic interest in quantitative modeling for monetary policy was apparent.
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MODELING MONETARY MACROECONOMICS: KALECKI RECONSIDERED
Metroeconomica, 2011ABSTRACTThis study is devoted to the financing of demand out of income and borrowing, a crucial aspect of Kalecki's analysis of investment. If the demand for loans moves procyclically, short‐term equilibrium is unstable. The borrowing of non‐financial agents must be checked by the action of central banks.
Duménil, Gérard, Lévy, Dominique
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2020
As learned in Chap. 5, demand for money is a function of real income, the interest rate and the price level. More precisely, the velocity of money, defined as the ratio of demand for money and the price level, is an increasing function of the level of real income and a decreasing function of the level of the interest rate.
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As learned in Chap. 5, demand for money is a function of real income, the interest rate and the price level. More precisely, the velocity of money, defined as the ratio of demand for money and the price level, is an increasing function of the level of real income and a decreasing function of the level of the interest rate.
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2011
Thoroughly updated and expanded with a new chapter on blockchain and increased coverage of cryptocurrency, as well as new data, this established advanced undergraduate textbook approaches the subject via first principles. It builds on a simple, clear monetary model and applies this framework consistently to a variety of monetary questions.
Bruce Champ +2 more
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Thoroughly updated and expanded with a new chapter on blockchain and increased coverage of cryptocurrency, as well as new data, this established advanced undergraduate textbook approaches the subject via first principles. It builds on a simple, clear monetary model and applies this framework consistently to a variety of monetary questions.
Bruce Champ +2 more
openaire +1 more source