has altered the relative liquidity and productivity of financial assets. This paper shows that even a sophisticated (Divisia) monetary index does not adequately allow for the effects of financial innovation
has altered the relative liquidity and productivity of financial assets. This paper shows that even a sophisticated (Divisia) monetary index does not adequately allow for the effects of financial innovation. Two modifications to Divisia monetary aggregates are proposed to capture the effects of: non-neutral transaction technology progress; and of the introduction of new financial assets. The empirical analysis reveals that the modified Divisia aggregates dominate the basic, innovation-neutral Divisia indices.
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Andrew W. Mullineux (e., 1996. Financial Innovation, Banking and Monetary Aggregates," Books, Edward Elgar Publishing, number 806. Handle: RePEc:elg:eebook:806. as. HTML HTML with abstract plain text plain text with abstract BibTeX RIS (EndNote, RefMan, ProCite) ReDIF JSON. Download full text from publisher. 8981260 Download Restriction: no. More about this item.
Monetary aggregates and counterparts are derived from the euro area banks' (MFIs’) consolidated balance sheet. Monetary aggregates comprise short-term liabilities vis-à-vis the money holding sector, . non-bank euro area residents excluding central government.
Chapter 1 Money, Banking, and Your World. Chapter 9 Bank Management Chapter 18 Foreign Exchange. Chapter 19 International Monetary Regimes. Chapter 2 The Financial System. Chapter 9 Bank Management. Chapter 10 Innovation and Structure in Banking and Finance. Chapter 11 The Economics of Financial Regulation. Chapter 12 Financial Derivatives. Chapter 13 Financial Crises: Causes and Consequences. Chapter 14 Central Bank Form and Function. Chapter 15 The Money Supply Process and the Money Multipliers. Chapter 16 Monetary Policy Tools. Chapter 17 Monetary Policy Targets and Goals. Chapter 18 Foreign Exchange.
Money market funds are also classified as MFIs.
E. Brookings Papers on Economic Activity. Evidence on the High-Income Laffer Curve from Six Decades of Tax Reform. 1999, No. 2. T. The Role of Interest Rates and Inflation in the Consumption Function. 1972, No. 1. The Monetary Deceleration: What Does It Mean and Why Is It Happening? William Poole. 1979, No. Related Books. ECB Banking Supervision and Beyond. By Philip A. Wallach.
Monetary aggregates are broad categories measuring the total value of the money supply within a nation's . Money aggregates are broad categories that measure the money supply in an economy.
Monetary aggregates are broad categories measuring the total value of the money supply within a nation's economy. Labels attributed to aggregates include M0, M1, and M2. These figures generate substantial information about the financial stability and overall health of a country. In the United States, labels are attributed to standardized monetary aggregates: M0-Physical paper and coin. M1-All of M0 plus traveler's checks and demand deposits.