Should bond funds be added to M2?

Article Abstract:

The possibility of coming up with a monetary variable that is a result of adding M2 to bond funds is discussed. M2 is generally observed to be a more stable measure of market activity and long-term price trends. However, empirical results have shown that the growth of M2 has fallen short of expectations amidst the fast rise in the quantity of bond mutual funds. The results from the addition of M2 to bond funds show that this hybrid measure improves the usefulness of the M2 indicator.

Bond funds

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The optimal pricing of exports invoiced in different currencies

Article Abstract:

The optimal pricing of exports is discussed through a model that revolves around the management of exchange risk and that assumes invoicing of such exports in various currencies. The application of the model shows that the optimal prices in various currencies coincide at the spot exchange rate only by accident and that it is advisable to have export prices vary in direct proportion to a currency's interest rate to satisfy optimum conditions.

Prices and rates, Exports, Pricing

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Bank competition and ECB's monetary policy

Article Abstract:

A new study investigates how the European Central Bank's monetary policy can influence competition in the credit markets of EU member states.

Banking industry, Economic policy, Central banks, European Central Bank

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