The transmission of interest rate changes and the role of bank balance sheets: a VAR-analysis for the Netherlands
Article Abstract:
A vector autoregressive (VAR) model was employed to analyze the existence of monetary transmission in the Netherlands between 1979 to 1993. The VAR model, which requires lesser apriori or theoretical limitations than other conventional models, revealed the importance of M2 and bank bond holdings in the creation of monetary policy. The existence of flat aggregate supply curve suggests the importance of nominal price rigidities in the Dutch economy.
Publication Name: Journal of Macroeconomics
Subject: Economics
ISSN: 0164-0704
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Exchange rate volatility: does politics matter?
Article Abstract:
A relationship was established between politics and exchange rate volatility. An analysis of Japanese Yen, British Pound, German Mark and Canadian Dollar's weekly volatility in relation to the US Dollar revealed that both the electoral cycle year and the administration's political party influence the volatility of four exchange rates. Previous innovations were also found to have an asymmetric effect on exchange rates' conditional volatility.
Publication Name: Journal of Macroeconomics
Subject: Economics
ISSN: 0164-0704
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Wage indexation and the exchange rate regime: a strategic analysis. The effect of changing monetary policy regimes on stock prices
- Abstracts: Wealth effects, distribution, and the theory of organization. part 2 Probabilities of preferences and cycles with super majority rules
- Abstracts: Financial innovations and arbitrage pricing in economies with frictions: revisited. part 2 Martingales and arbitrage in securities markets with transaction costs
- Abstracts: Taxes on capital accumulation and economic growth. Central bank independence and financing government spending