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Journal articles on the topic 'Currency policy effectiveness'

Author: Grafiati

Published: 28 May 2022

Last updated: 31 July 2025

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1

Assenova, Kamelia. "Effectiveness of Specific Monetary Policy by the Currency Board." Transition Studies Review 20, no. 3 (2013): 325–34. http://dx.doi.org/10.1007/s11300-013-0290-6.

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2

He, Sirui. "Exploration of Gold Standard, Credit Currency and Digital Currency." Finance and Market 5, no. 4 (2020): 316. http://dx.doi.org/10.18686/fm.v5i4.2962.

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<p>In the perspective of present monetary system, the author proposes that we should analyze the comprehensive effectiveness with the combination of the former gold standard system and diversified monetary systems, such as the credit currency and the digital currency, which are highlighted in this new era, and confirm the more complete digital currency policy according to present development status so as to promote the healthier and more reasonable and effective development of the monetary funds. In this paper, the author launches research and exploration with the combination of gold sta

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3

Ridwansyah, Mohd Shahril Ahmad Razimi, Ersi Sisdianto, and Okta Suprianingsih. "Central Bank Digital Currency (CBDC): An Innovation in E-Payment for Socio-Entrepreneurship." PaperASIA 40, no. 2b (2024): 93–104. http://dx.doi.org/10.59953/paperasia.v40i2b.73.

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The quantity of electronic currency in circulation within the community experienced a substantial increase between 2017 and 2022. However, the quantity of electronic currency in circulation in 2021 has declined compared to 2020 and 2022. Furthermore, the emergence of central bank digital currency (CBDC) as a digital currency has problems that cannot be avoided; these problems arise from policies or regulations and understanding of the public and business people and are related to the security of digital currency users. The Bank of Indonesia deems it imperative to address this by implementing s

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Brailsford, Tim, Jack H. W. Penm, and Chin Diew Lai. "Effectiveness of high interest rate policy on exchange rates: A reexamination of the Asian financial crisis." Journal of Applied Mathematics and Decision Sciences 2006 (September 18, 2006): 1–9. http://dx.doi.org/10.1155/jamds/2006/35752.

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One of the most controversial issues in the aftermath of the Asian financial crisis has been the appropriate response of monetary policy to a sharp decline in the value of some currencies. In this paper, we empirically examine the effects on Asian exchange rates of sharply higher interest rates during the Asian financial crisis. Taking account of the currency contagion effect, our results indicate that sharply higher interest rates helped to support the exchange rates of South Korea, the Philippines, and Thailand. For Malaysia, no significant causal relation is found from the rate of interest

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Widodo, Kharisma Dwi, Bambang Djuanda, and Dedi Budiman Hakim. "Factors Affecting Perception of Central Bank Digital Currency in Indonesia." JURNAL EKONOMI DAN KEBIJAKAN PEMBANGUNAN 12, no. 1 (2023): 23–40. http://dx.doi.org/10.29244/jekp.12.1.2023.23-40.

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The increasing use of private digital currency can affect the effectiveness of the monetary policy, putting the government under pressure to adopt the Central Bank Digital Currency (CBDC). This study aims to analyze the factors that influence economic actors in the use of CBDC. The results showed that the effectiveness and safety may increase the consumer satisfaction with using CBDC and the publicity influences changes in the behavior of economic actors in increasing the conversion of fiat money to CBDC.

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6

Ray, Russ. "Currency Futures: Some Implications For International Financial Management." Journal of Applied Business Research (JABR) 3, no. 3 (2011): 62. http://dx.doi.org/10.19030/jabr.v3i3.6516.

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This paper tests the contemporary currency futures market for interest-rate parity, purchasing-power parity, market efficiency, and hedging effectiveness. The study finds that the currency futures markets is a highly efficient, hedging-effective market exhibiting significant degrees of interest-rate parity and (longer-term) purchasing-power parity. Finally, the study infers from such findings some practicable policy tools for international cash management, multi-country capital budgeting, currency forecasting, and the risk management of foreign exchange exposure.

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7

Baran, Bernadeta. "Effectiveness of Fiscal Policy Coordination Rules in the Monetary Union." Equilibrium 7, no. 3 (2012): 73–91. http://dx.doi.org/10.12775/equil.2012.020.

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Stability and Growth Pact is the main rule-based framework for the coordination of national fiscal policies in the economic and monetary union (EMU). It was established to safeguard sound public finances, an important requirement for EMU to function properly. Member states had a lot of determination before setting up a monetary union (nominal criteria were a condition to adopt common currency). In the next years, coordination of fiscal policy was not so successful. In many countries, revenues were temporarily boosted by tax-rich activity, while they didn’t restrict their expenditures. In most

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8

Kapkanshchikov, S. "The Central Bank of Russia fighting the “Dutch disease”: the effectiveness of the policy chosen is questionnable." Obshchestvo i ekonomika, no. 9 (2022): 79. http://dx.doi.org/10.31857/s020736760021863-8.

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The article questions the effectiveness of the mechanism traditionally used by Russia’s Central Bank to counteract the &quot;Dutch disease&quot; through the purchase of foreign currency from Russian exporters to prevent excessive strengthening of the ruble in an environment of high world oil prices. Revealing the strategic weaknesses of the currency channel of money emission that dominates in Russia, the author substantiates the need for a decisive transition to the stock and credit channels of money emission in order to ensure a reasonable diversification of the domestic economy.

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9

Beri, Bihkongnyuy Parfait, M. Nembot Adeline, Meli Tankeu Yollande, et al. "Dynamics of Monetary and Fiscal Policy in the Franc CFA Zone: A Review of the Literature." GPH-International Journal of Business Management 8, no. 02 (2025): 15–40. https://doi.org/10.5281/zenodo.14939562.

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The effectiveness of monetary and fiscal policy within a monetary union has come under increasing scrutiny in recent years, particularly in the context of complex and overlapping global crises and economic shocks. This is especially true for African countries, whose economic challenges have long been associated with monetary dependency. This paper focuses on the dynamics of monetary and fiscal policies in the CFA Franc zone, which comprises two groups of West and Central African countries that share a common currency pegged to the euro and operate under a unified central bank. Specifically, it

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10

Surpiah Surpiah, Finarsih Septria, and Afriani Pravitasari. "The Future of Central Bank Digital Currencies (CBDCs): Implications for Monetary Policy." Jurnal Akuntansi, Ekonomi dan Manajemen Bisnis 5, no. 1 (2025): 355–63. https://doi.org/10.55606/jaemb.v5i1.6520.

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This study investigates the implications of Central Bank Digital Currency (CBDC) implementation and fintech adoption on the effectiveness of monetary policy, emphasizing the mediating role of financial system stability and the moderating influence of public trust in central banks. The research addresses a pressing issue in the digital transformation of global finance: whether digital currencies issued by central banks can enhance policy responsiveness in increasingly cashless and decentralized economies. Using an exploratory qualitative method, this study integrates a systematic review of post

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Frayyeh, Jawad Shakir, Ahmed Hussein Battal, and Abed Ali Hamad. "Evaluation of the role of monetary policy in achieving monetary and economic stability in Iraq for the period (2004-2020)." Tikrit Journal of Administrative and Economic Sciences 18, no. 58, 1 (2022): 304–28. http://dx.doi.org/10.25130/tjaes.18.58.1.17.

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The aim of the research is to analyze and evaluate the effectiveness of monetary policy in Iraq for the period (2004-2020). And its role in achieving monetary and economic stability, as monetary policy throughout the research period was able to reduce inflation rates and maintain the stability of the general level of prices, especially after the Central Bank obtained its independence after the issuance of law (56) for the year (2004). And the establishment of the currency auction and the control of sales and purchases of foreign currency and the fundamental changes in the work of monetary poli

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12

DIAM, A. ABOUEM Hamed. "Applying Taylor Rule in a Heterogeneous Currency Union: Case of UMAC." INTERNATIONAL JOURNAL OF MULTIDISCIPLINARY RESEARCH AND ANALYSIS 06, no. 03 (2023): 904–22. https://doi.org/10.5281/zenodo.7701423.

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Our objective is to show that the Taylor rule is the monetary policy practice of BEAC its effectiveness is limited due to the structural and cultural heterogeneity of the currency union. In this light, we identify the reaction function of BEAC show that it includes additional variables namly, the interest rate and inflation differential with the Euro zone, as well as the currency reserve ratio that must cover at least 20% monetary issue. Given the objectives and instruments used and the reaction function built, we estimate a forward-looking Taylor rule using the GMM, similar to the one propose

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13

Galí, Jordi, and Tommaso Monacelli. "Understanding the Gains from Wage Flexibility: The Exchange Rate Connection." American Economic Review 106, no. 12 (2016): 3829–68. http://dx.doi.org/10.1257/aer.20131658.

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We study the gains from increased wage flexibility using a small open economy model with staggered price and wage setting. Two results stand out: (i) the effectiveness of labor cost reductions as a means to stimulate employment is much smaller in a currency union, and (ii) an increase in wage flexibility often reduces welfare, more likely so in an economy that is part of a currency union or with an exchange-rate-focused monetary policy. Our findings call into question the common view that wage flexibility is particularly desirable in a currency union. (JEL E12, E24, E52, E63, F31, F33, F41)

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Fenjan, Karrar Mahdi, and Muhammad Saleh Salman. "The Effectiveness of Indicators of Financial Discipline in Strengthening the Exchange Rate, with a Special Reference to Iraq." Journal of Economics and Administrative Sciences 27, no. 130 (2021): 118–41. http://dx.doi.org/10.33095/jeas.v27i130.2198.

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Controlling public expenditures is one of the main objectives of the public budget. The public budget often suffers from a deficit, whether in developed or developing countries, because expenditures are usually greater than the revenues generated. This requires the existence of financial rules that are adhered to by the government, which in turn leads to discipline. Fiscal policy leads to a reduction in the obligations incumbent on the government. Adhering to the financial rules would correct the course of fiscal policy in Iraq, with the need to direct oil revenues in the years of financial ab

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15

Li, Siyao. "Will Virtual Currency Replace Classic Money in The Future." Highlights in Business, Economics and Management 24 (January 22, 2024): 1546–51. http://dx.doi.org/10.54097/fjtebz82.

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Virtual currency is not an entirely new concept. As a special type of digital currency based on internet technology, virtual currencies are believed to have the potential to change the traditional monetary system. However, its applications lack the recognition of many countries. This study aims to explore whether virtual currencies can replace traditional currencies in order to provide theoretical support for the development and application of cryptocurrency. This article first reviews the characteristics of virtual currencies, and analyzes their comparison with traditional currencies in terms

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16

Park O. IDISI, Benjamin A. ADEAGBO, Chindu Joseph IDIEGE, Hassan ISAH, James Ondeku SIMPA, and Paul Akinwumi ATTEH. "Evaluating the evolution, implementation, and future prospects of central bank-based digital currencies: A case study of Nigeria’s e-Naira." World Journal of Advanced Research and Reviews 22, no. 3 (2024): 2020–29. http://dx.doi.org/10.30574/wjarr.2024.22.3.1940.

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This research examines the development, implementation, and future prospects of central bank digital currencies (CBDCs), focusing on Nigeria’s e-Naira. The rise of digital currencies and blockchain technology has provided new payment options worldwide. CBDCs are increasingly seen as faster and cheaper alternatives for transactions, with potential benefits for payment settlements, financial inclusion, and monetary policy effectiveness. The e-Naira was introduced to complement Nigeria’s physical currency, representing a significant initiative by the Central Bank of Nigeria (CBN). As of March 202

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Park, O. IDISI, A. ADEAGBO Benjamin, A. ADEAGBO Benjamin, ISAH Hassan, Ondeku SIMPA James, and Akinwumi ATTEH Paul. "Evaluating the evolution, implementation, and future prospects of central bank-based digital currencies: A case study of Nigeria's e-Naira." World Journal of Advanced Research and Reviews 22, no. 3 (2024): 2020–29. https://doi.org/10.5281/zenodo.14769087.

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This research examines the development, implementation, and future prospects of central bank digital currencies (CBDCs), focusing on Nigeria’s e-Naira. The rise of digital currencies and blockchain technology has provided new payment options worldwide. CBDCs are increasingly seen as faster and cheaper alternatives for transactions, with potential benefits for payment settlements, financial inclusion, and monetary policy effectiveness. The e-Naira was introduced to complement Nigeria’s physical currency, representing a significant initiative by the Central Bank of Nigeria (CBN). As

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18

Kharbanda, Varuna, and Archana Singh. "Futures market efficiency and effectiveness of hedge in Indian currency market." International Journal of Emerging Markets 13, no. 6 (2018): 2001–27. http://dx.doi.org/10.1108/ijoem-08-2017-0320.

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Purpose Corporate treasurers manage the currency risk of their organization by hedging through futures contracts. The purpose of this paper is to evaluate the effectiveness of hedging by US currency futures contracts by taking into account the efficiency of the currency market. Design/methodology/approach The static models for calculating hedge ratio are as popular as dynamic models. But the main disadvantage with the static models is that they do not consider important properties of time series like autocorrelation and heteroskedasticity of the residuals and also ignore the cointegration of t

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19

Yusuf, Bulus, OGHENEKARO AFIEMO, and AUWAL ISAH. "Assessment of interest rate channel Effectiveness in the transmission of Monetary Policy in Nigeria." Applied Journal of Economics, Management and Social Sciences 3, no. 5 (2022): 27–42. http://dx.doi.org/10.53790/ajmss.v3i5.63.

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This study attempted to investigate the effectiveness of the interest rate channel in the transmission of monetary policy by employing a structural vector autoregressive (SVAR) model using sign restriction. It used a set of policy and non-policy macroeconomic variables based on monthly data spanning the period 2007 and 2020. The structural impulse response functions provided evidence to support the use of the MPR as a signaling rate for domestic interest rates but was, however, found to be ineffective in stabilizing prices or increasing output. Furthermore, results from the variance decomposit

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20

Ilychok, Bohdan, Yurii Dziurakh, Veronika Karkovska, Anatolii Kucher, Аnna Маrмulyak, and Andrii Tsyrkin. "PUBLIC MANAGEMENT OF CURRENCY SECURITY IN UKRAINE: CHALLENGES AND PERSPECTIVES IN MODERN REALITIES." Financial and credit activity problems of theory and practice 3, no. 56 (2024): 308–20. http://dx.doi.org/10.55643/fcaptp.3.56.2024.4311.

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The article examines issues related to the effectiveness of public administration in the field of monetary security in Ukraine. The article presents general characteristics of the nature, state, and dynamics of the effectiveness of public administration in the field of currency security in Ukraine. The assessment of the current state and dynamics of the currency security indicators in Ukraine was made on the basis of the characteristics of the state monetary policy components indicators compared to similar indicators in Poland. The characteristics of exchange rate dynamics, GDP dynamics, and l

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21

Wang, Yan. "Corporate Commercial Credit Resistance Currency Research on the Function of Policy Shock." Frontiers in Business, Economics and Management 10, no. 1 (2023): 250–56. http://dx.doi.org/10.54097/fbem.v10i1.10381.

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Monetary policy can affect the operation of physical enterprises through monetary and credit channels. As a supplement to external credit, corporate commercial credit can effectively smooth out the impact of monetary policy on enterprises and play a "stabilizer" role. Based on the data of listed companies in Shanghai and Shenzhen from 2007 to 2021, this paper empirically studies the impact of corporate commercial credit on the government's monetary policy and the Catabolism effect of the tendency of enterprises to "move away from reality to emptiness". The research results found that there is

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22

Vdovichenko, A., B. Voronina, O. Dinnikova, A. Ustinov, and V. Subbotin. "Inflation and Exchange Rate Policy." Voprosy Ekonomiki, no. 12 (December 20, 2003): 39–55. http://dx.doi.org/10.32609/0042-8736-2003-12-39-55.

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In this article the trade-off between anti-inflation policy and policy aimed at limiting currency appreciation in Russia is analysed. A detailed overview of the Central Bank achievements in inflation restraining in 2003 as well as the analysis of the state budget role in the sterilisation process are given. A comprehensive study of trade-offs between inflation and rouble appreciation is provided. The authors analyse the influence of real rouble exchange rate on key sectors in mid-term, consider causes and consequences of "Dutch Disease" and examine effectiveness of its treatment by exchange ra

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23

Sintsova, E. A., and E. A. Vitsko. "Current Development Trends in the Digital Currency Market." Economics and Management 27, no. 7 (2021): 504–11. http://dx.doi.org/10.35854/1998-1627-2021-7-504-511.

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Aim. The presented study aims to analyze the development of the digital currency market, investigate trends for expanding the use of its tools, identify the peculiarities of the current stage of digital currency use, and consider the mechanism of introducing central bank digital currencies (CBDCs).Tasks. The authors specify the role and content of the digital currency market and its tools in the modern Russian economy; examine the formation and development of the cryptocurrency market from the perspective of introducing the “digital ruble”; identify regulatory prerequisites that hinder the dev

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24

Xie, Dongxiang. "Digital Currency Risk Identification and Coping Strategies." Advances in Economics, Management and Political Sciences 186, no. 1 (2025): 90–95. https://doi.org/10.54254/2754-1169/2025.bl23679.

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This paper systematically discusses the core risks (price volatility and market manipulation), investor misunderstanding, lack of regulatory framework and the double-edged effect of technological innovation. Through literature review and policy analysis, a three-dimensional regulatory framework of "risk traceability-technology enabling-cross-national collaboration" is proposed, and its effectiveness is verified based on research data. The study systematically identifies the core risks of digital currencies, including extreme price volatility, market manipulation, investor cognitive biases, reg

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25

Chansa, Collins, Jesper Sundewall, and Numi Östlund. "Effect of currency exchange rate fluctuations on Aid Effectiveness in the Health Sector in Zambia." Health Policy and Planning 33, no. 7 (2018): 811–20. http://dx.doi.org/10.1093/heapol/czy046.

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Achba, Lyubov V. "THE ROLE OF GREEN FINANCE IN THE DEVELOPMENT OF GREEN ECONOMY." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 4/2, no. 145 (2024): 133–43. http://dx.doi.org/10.36871/ek.up.p.r.2024.04.02.016.

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The article is devoted to the problems of developing a green economy in modern conditions, as well as the importance of green finance for the formation of a green economy. The article discusses current problems in the functioning of green finance, as well as the main directions for introducing green finance at the national level. One of the important aspects of achieving sustainable development goals and at the same time a significant factor in the transition to a green economy is expanding the population’s access to financial services. A promising tool for solving this problem is currently th

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27

Steel, Emily J., Ricky Buchanan, Natasha Layton, and Erin Wilson. "Currency and Competence of Occupational Therapists and Consumers with Rapidly Changing Technology." Occupational Therapy International 2017 (2017): 1–5. http://dx.doi.org/10.1155/2017/5612843.

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Assistive technology was once a specialised field of practice, involving products designed for populations with specific impairments or functional goals. In Australia, occupational therapists have, at times, functioned as gatekeepers to public funding, prescribing products from a predefined list. An expanding range of accessible mainstream products available via international and online markets has changed the meaning and application of assistive technology for many people with disability. In the policy context of consumer choice and cost-effectiveness, have occupational therapists been left b

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Zhang, Zhaohui, and Khondkar E. Karim. "Is Too-Big-To-Fail Policy Effective for US Banks in an International Currency Crisis?" Review of Pacific Basin Financial Markets and Policies 07, no. 03 (2004): 311–33. http://dx.doi.org/10.1142/s0219091504000196.

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This study investigates the current role of the US "too-big-to-fail" (TBTF) policy for US banks in an international currency crisis in late 1997. It has been documented (Zhang, 2001) that the International Monetary Fund (IMF) term loan announcements concerning South Korea in late 1997 significantly increased the implicit value of the US bank loans and investments to South Korea and hence, the equity values of its US bank creditors. Using the market model, this paper examines the potential abnormal performance of the TBTF banks and the non-TBTF banks from different perspectives during mid-Novem

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Spirzewski, Krzysztof. "Currency Competition in the Eurozone: An Answer to the Crisis." e-Finanse 12, no. 1 (2016): 12–20. http://dx.doi.org/10.1515/fiqf-2016-0132.

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AbstractThe common currency was created as a result of theoretical considerations regarding the functioning of optimum currency areas. This theory refers to a number of benefits as well as costs. It imposes a number of requirements that are necessary for the newly created structure to be considered optimum. The economies of Eurozone countries did not meet these requirements. In consequence, the present functioning of the Eurozone encounters many disturbances - the strong differentiation of the balance of payments is a significant example. The reforms initiated in the European Union and underta

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Zhao, Anshen. "Currency Risk Hedging of International Companies: A Case Study." Advances in Economics, Management and Political Sciences 176, no. 1 (2025): 1–7. https://doi.org/10.54254/2754-1169/2025.22105.

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This study investigates the effectiveness and innovative approaches of currency risk hedging strategies for multinational corporations through the case of The Walt Disney Company's response to Japanese yen depreciation risks. Research findings reveal significant limitations of traditional foreign exchange derivatives (forwards, futures, options) in managing long-term risks. Disney's adoption of the ECU Eurobond swap strategy emerged as a superior solution through its 10-year maturity matching, cost optimization (saving 105 billion in financing costs), and diversified risk dispersion. This stra

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31

Pepić, Marina, Srđan Marinković, Ognjen Radović, and Marko Malović. "Determinants of Currency Substitution in Southeast European Countries." Economic Themes 53, no. 2 (2015): 162–84. http://dx.doi.org/10.1515/ethemes-2015-0010.

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AbstractCurrency substitution is widespread in less developed countries. Since it increases financial vulnerability and limits the effectiveness of monetary policy, it is often in the focus of scientists and experts. In this paper, we analyze the importance of euroization determinants in Serbia and neighboring countries - Albania, Bosnia and Herzegovina, FYR Macedonia, Romania and Croatia for the period 2003-2014. We examine the impact of domestic inflation, nominal exchange rate of the domestic currency against the euro, interest rate spread on domestic and foreign currency, foreign currency

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Koroleva, M. L. "Formation of an Effective System of Currency Regulation and Control in Russia." Mezhdunarodnaja jekonomika (The World Economics), no. 4 (April 18, 2024): 238–48. http://dx.doi.org/10.33920/vne-04-2404-01.

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In the course of the conducted research, specific problems of the system of currency regulation and control related to negative trends in the Russian foreign exchange market in modern realities have been identified. Based on the evolution of the global and domestic system of currency regulation and control, trends and priority directions of its development have been identifi ed. Measures have been formulated to improve the system of currency regulation and control and increase their effectiveness, which can be used to develop drafts of existing regulatory legal acts and to form the main direct

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PRATES, DANIELA MAGALHÃES, and LUIZ FERNANDO DE PAULA. "Capital account regulation in Brazil: An assessment of the 2009-2013 period." Revista de Economia Política 37, no. 1 (2017): 108–29. http://dx.doi.org/10.1590/0101-31572016v37n01a06.

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ABSTRACT Brazil was one of the emerging countries that had a stronger trend of currency appreciation from the 2nd quarter of 2009 to July 2011. Under this context that can be understood the implementation of capital account regulation (CAR) after 2009, which was complemented with another kind of regulation, the so-called FX Derivatives Regulation (FXDR). This paper shows that only when Brazilian government adopted these two kinds of regulations simultaneously, the policy effectiveness increased in terms of protecting the Brazilian currency from upward pressures. Brazilian experience also highl

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Qi, Mingxuan. "The Impact of E-money on China's Money Supply." SHS Web of Conferences 170 (2023): 01003. http://dx.doi.org/10.1051/shsconf/202317001003.

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Electronic money alters the form of currency, reduces the demand for cash, alters the manner in which transactions are settled, and alters the quantity of reserves held by our commercial banks. Electronic money makes the relevant factors acting on the base money supply more complex, which will undoubtedly make it more difficult for the central bank to achieve control over the base money, thereby further weakening the central bank's ability to manipulate the money supply and affecting the effectiveness of the central bank's monetary policy target of the money supply. Therefore, a correct unders

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35

Kupczyk, Radosław. "Polityczne i ekonomiczne problemy rozwoju strefy euro." Politeja 17, no. 3(66) (2020): 79–89. http://dx.doi.org/10.12797/politeja.17.2020.66.05.

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Political and Economic Problems of the Euro Area Development The aim of the article is to examine how political and economic changes introduced in the field of economic governance as a result of the economic crisis will affect the effectiveness of economic policy at the supranational level. The first part presents problems related to the political conditions of the functioning of the euro area. In the second part, proposals for institutional changes affecting the improvement of economic policy coordination were analysed. The research was based on the theory of the optimal currency area u

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Rafiuddin Haque, Muhammad, Md Imran Hossain, Rokeya Begum Ankhi, Araf Nishan, and Umma Twaha. "Liquidity Traps, Digital Currencies and Inflation Targeting: A Comparative Analysis of Policy Effectiveness in Advanced and Emerging Economies." Inverge Journal of Social Sciences 2, no. 3 (2023): 148–65. https://doi.org/10.63544/ijss.v2i3.115.

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This research investigates how the evolving challenges and opportunities of implementing United States (US) monetary policy, especially liquidity traps, digital currency, and inflation targeting, have changed since the 1930s. A case of public perceptions of the Federal Reserve’s policy effectiveness and the adjustment of Central Bank Digital Currencies (CBDCs) to key macroeconomic issues like liquidity management and inflation control is studied. Data was collected using a quantitative survey-based approach from a diverse sample of US residents regarding their views on the pervasiveness of liq

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Astafurov, Sergey N. "STRATEGIC MANAGEMENT OF FINANCIAL STABILITY OF A MANUFACTURING ENTERPRISE UNDER CONDITIONS OF AGGRESSIVE SANCTIONS POLICY." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 5/12, no. 158 (2025): 33–42. https://doi.org/10.36871/ek.up.p.r.2025.05.12.004.

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The article provides a comprehensive analysis of strategies for managing the financial resilience of manufacturing enterprises under aggressive sanctions. The study covers key challenges, including restricted access to international markets, disrupted supply chains, and currency risks, while proposing tools to mitigate them: supplier diversification, localization of production, alternative currencies, and digital technologies. The methodology for evaluating strategy effectiveness, through liquidity ratios, profitability analysis, and stress-testing, is highlighted. The paper emphasizes the cri

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Zhang, Huiyi, Richard Skolnik, Yu Han, and Jinpei Wu. "The Impacts of China's Shadow Banking Credit Creation on the Effectiveness of Monetary Policy." International Journal of Finance & Banking Studies (2147-4486) 9, no. 4 (2020): 33–46. http://dx.doi.org/10.20525/ijfbs.v9i4.899.

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This paper researches the impact that shadow banking in China has upon credit creation and the potential effectiveness of monetary policy. Using a credit creation model, we derive the effect that shadow banking has upon the money multiplier and the money supply. The model shows that shadow banking can change the money multiplier, potentially increasing it during an expansion and decreasing it during a contraction. Introducing shadow banking in a CC-LM model results in a shift of the CC and LM curves resulting in a higher equilibrium output. A vector autoregressive model is used to empirically

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Rangelova, Rossitsa. "About the macroeconomic policy in Bulgaria since the introduction of the currency board arrangements." Economic Thought journal 65, no. 1 (2020): 119–21. http://dx.doi.org/10.56497/etj2065106.

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This fundamental and very important for our country economic topic is the subject of the monograph by Assoc. Prof. Dimitar Zlatinov1 from the Department of Economics of the Faculty of Economics of Sofia University "St. Kliment Ohridski and the International Economics Section of the Institute of Economic Studies at the Bulgarian Academy of Sciences. The aim of the author is "to trace the channels of macroeconomic impact of fiscal and monetary policy in Bulgaria in the short and long term, taking into account the stages of cyclical development of the country in the post-2000 period" (pp. 7-8). T

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Garbobiya, Tuwe Soro, Olajide Oladipo, and Paul Terhemba Iorember. "Financial inclusion and monetary policy targets: Evidence from the ECOWAS countries." Modern Finance 2, no. 1 (2024): 84–100. http://dx.doi.org/10.61351/mf.v2i1.107.

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The study examines the impact of financial inclusion on monetary policy targets in the Economic Community of West African States for the period between 2004 and 2020. To capture how a shock to financial inclusion affects monetary policy targets in the ECOWAS sub-region, the study employs panel vector autoregression via the Generalized Method of Moments framework and uses the impulse response functions. The results show that in all ECOWAS countries, financial inclusion leads to an appreciation of the local currency, thereby improving the value of the exchange rate. However, it reduces the effec

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Shivangi, Sharma. "Exit Policy and its impact on Increasing Inefficiency in Indian Economic System." RESEARCH REVIEW International Journal of Multidisciplinary 03, no. 08 (2018): 590–94. https://doi.org/10.5281/zenodo.1401318.

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The expression 'Exit Policy' has gained much currency in India since the second half of 1991. Exit policy is an important element of structural adjustment programe for Indian economy. To some in meant that the title of policy yet to be formulated to others, a sanctions to demand legislative changes in employment security provisions; to yet others, it meant creations of safety nets and mobilization of resources to fund separation costs as a price for mitigating potential upheaval. India is famous for having many sick industries but no sick industrialists. This paper deals with how in av

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CHOW, HWEE KWAN, PETER NICHOLAS KRIZ, ROBERTO S. MARIANO, and AUGUSTINE H. H. TAN. "MONETARY POLICY COOPERATION TO SUPPORT ASIAN ECONOMIC INTEGRATION." Singapore Economic Review 55, no. 01 (2010): 83–101. http://dx.doi.org/10.1142/s0217590810003626.

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This paper considers the form of monetary policy coordination and regional exchange rate arrangement that would best support economic and financial integration in East Asia. In view of the region's economic diversity, we propose a graduated program of informal policy cooperation from weak forms of cooperation to more intensive modes of cooperation such as the adoption of common monetary policy objectives. An array of informal monetary arrangements rooted to the degree of institutional development can improve the effectiveness of both sovereign and regional institutions, and promote integration

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Siklar, Ilyas, and Aysegül Akça. "Macroprudential Policy and Financial Stability: The Turkish Case." Research in Applied Economics 10, no. 2 (2018): 34. http://dx.doi.org/10.5296/rae.v10i2.12979.

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This study aims to analyse the relationship between financial stability and macroprudential policies in Turkey and investigate the effectiveness of macroprudential policies on the financial stability by using the vector error correction model (VECM). Estimates are realized for the 2010-2017 period by using the monthly data. For this purpose, a composite financial stability indicator (FSI) is formed and an estimation model is developed. Banking sector credit concentration, net position of interbank money market, leverage ratio, capital buffers, reserve requirements and foreign currency loan lim

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M. Jume, Tijjani. "An Assessment of the Effectiveness of Central Bank Sterilization on Capital Inflows in Nigeria." Central Bank of Nigeria Journal of Applied Statistics, Vol. 11 No. 2 (April 8, 2021): 201–30. http://dx.doi.org/10.33429/cjas.11220.8/8.

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This paper assesses the monetary policy response of the Central Bank of Nigeria (CBN) to increases in capital inflows into Nigeria using monthly time series data from January 2009 to December 2017. It presents an econometric assessment of the degree to which the CBN sterilizes net foreign assets (NFA) in response to the capital flows, using Autoregressive Distributed Lag (ARDL) bounds testing approach. The long run sterilization coefficient obtained suggests that the CBN successfully offset 95per cent of capital inflows in the period of analysis. Against the background of rising financial inst

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Ratnikov, Maksym. "THE DOLLAR AS A TOOL OF US FOREIGN POLICY." Actual Problems of International Relations, no. 159 (2024): 39–45. http://dx.doi.org/10.17721/apmv.2024.159.1.39-45.

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The article examines the role of the American dollar in the system of international relations and its impact on the foreign policy of the US. The author analyzes the historical and contemporary aspects of the use of the dollar as an instrument of economic pressure and diplomatic influence. The work discusses the mechanisms by which the United States uses its currency to advance national interests in the global arena, including sanctions policy, control over financial institutions and the dollar dependence of world markets. Particular attention is paid to the analysis of the effectiveness of th

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Chen, Jianwei, and Igor O. Nesterov. "Central bank digital currencies: Digital Yuan and its role in Chinese digital economy development." RUDN Journal of Economics 31, no. 1 (2023): 120–33. http://dx.doi.org/10.22363/2313-2329-2023-31-1-120-133.

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Under the impact of financial technology and digital currency, “central bank digital currency” has become an international hotspot in recent years and is also one of the current research and development priorities of China’s central bank. Preparations for China’s digital RMB began as early as 2014, and in 2017 China’s central bank clearly announced that it would fully issue the digital currency. The launch of the digital RMB is a major reform and innovation in the historical development of China’s currency. China’s issuance of a central bankdigital currency will help enhance the status of the

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Mishchenko, Volodymyr, and Svitlana Naumenkova. "THE IMPACT OF DIGITAL CURRENCY ON THE TRANSFORMATION OF MONETARY POLICY." Three Seas Economic Journal 2, no. 4 (2021): 43–48. http://dx.doi.org/10.30525/2661-5150/2021-4-8.

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The purpose of the paper is to study the specifics of the organization of issue and circulation of digital money by central banks, to summarize existing global expe-rience and assess the potential impact of digital currencies on the conditions of monetary policy, the functioning of the mechanism of money transmission and ensuring financial stability through the implementation of sound decisions of cen-tral banks in the digitalization of finance. Methodology. The study is based on an analysis of the scientific literature and points of view of foreign and domestic ex-perts in the field of digita

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Mawar, Abdul Rahman, and Evi Satispi. "Efektivitas Kebijakan Program Cinta Bangga dan Paham Rupiah di Kabupaten Nunukan." PERSPEKTIF 12, no. 4 (2023): 1400–1410. http://dx.doi.org/10.31289/perspektif.v12i4.10392.

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This article aims to analyze the effectiveness of the love, pride and understanding of the rupiah program policy in Nunukan Regency. The problem focuses on the lack of public awareness of using the rupiah currency in the Indonesia-Malaysia border area (especially in Nunukan Regency). In order to approach this problem, 3 main policy/program parameters are used as a reference, namely: love, pride and understanding of the Rupiah as set by Bank of Indonesia. Data were acquired through the collection of both primary and secondary data sources. Primary data was procured via observations and question

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Vujović, Dušan. "The impact of digital money on monetary and fiscal policy." Ekonomika preduzeca 71, no. 1-2 (2023): 65–76. http://dx.doi.org/10.5937/ekopre2302065v.

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Digital money era is in full swing. It has already changed the structure of the global monetary system. Like industrial revolutions of the past few centuries, the digital money revolution is based on: (i) new IT and accounting technology (crypto algorithms, distributed ledger technology, internet, and deep penetration of smart phones), and (ii) demand for greater financial inclusion, and for more efficient financial services. The advent of unregulated private mobile money with more than 4 billion users and trillions of dollars in financial transaction has awakened fears of monetary system inst

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VASYUKOV, Evgenii A. "Chinese experience of using monetary policy instruments to stabilize exchange rate and achieve sustainable economic growth." Finance and Credit 29, no. 3 (2023): 661–76. http://dx.doi.org/10.24891/fc.29.3.661.

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Subject. The article deals with monetary policy as part of China's macroeconomic policy. It considers the use of tools of China’s monetary policy to stabilize exchange rate and achieve economic stability. Objectives. The aim is to explore practices and results of using the monetary policy tools in China. Methods. The study employs historical and systems approaches to unveil the relation of effective application of the monetary policy and its impact on macroeconomic indicators. The comparison method enabled to identify aspects of China's monetary policy applicable for Russia’s economy. Results.

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