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Journal articles on the topic 'Monetary policy efficiency'

Author: Grafiati

Published: 28 May 2022

Last updated: 31 July 2025

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1

Xiang, Haitao. "Optimal monetary policy: distribution efficiency versus production efficiency." Canadian Journal of Economics/Revue canadienne d'économique 46, no. 3 (2013): 836–64. http://dx.doi.org/10.1111/caje.12041.

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2

Pacheco, Rafael, and Jose Angelo Divino. "Relative Efficiency of Monetary Policy Across Countries." International Journal of Economics and Finance 16, no. 11 (2024): 79. http://dx.doi.org/10.5539/ijef.v16n11p79.

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We analyze the relative efficiency of monetary policy between developed and developing countries by calculating efficiency scores through nonparametric methods and estimating DEA bootstrap efficiency frontiers oriented to both single and multiple outputs, represented by inflation and unemployment. We use a heterogeneous sample of countries from the pre-COVID-19 period because the pandemic severely impacted monetary policy. For developing countries, the combination of an independent central bank with the adoption of an inflation-targeting regime is associated with greater monetary policy effici

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3

Myskiv, Galina, Nazarii Grygoryshyn, and Olha Levytska-Revutska. "Efficiency of Ukraine’s monetary policy in the context of achieving monetary security." Zeszyty Naukowe Wyższej Szkoły Bankowej w Poznaniu 92, no. 1 (2021): 13–31. http://dx.doi.org/10.5604/01.3001.0014.9150.

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The article explores the effectiveness of monetary policy by identifying its main criteria and analyzing indicators of monetary security. The authors draw conclusions about the state of monetary policy and its impact on Ukraine’s economic security. The analysis indicates that the country’s monetary policy is sufficiently effective to achieve the monetary goals and guarantee economic security. Four groups of monetary threats to economic security were identified, related to monetary policy, banking, investment and institutional environment, which were rated on a scale from 0 to 5 for 2010, 2015

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KALLIANIOTIS, Dr IOANNIS N. "MONETARY POLICY: EFFECTIVENESS, EFFICIENCY, RISK, AND PERSPECTIVES." International Journal of Social Sciences and Management Review 04, no. 04 (2021): 46–95. http://dx.doi.org/10.37602/ijssmr.2021.4405.

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5

Kim, Jangryoul. "Efficiency and Stability Issues in Monetary Policy." Global Economic Review 39, no. 4 (2010): 405–30. http://dx.doi.org/10.1080/1226508x.2010.533851.

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6

Han, Dongping, and Peng Zhang. "Monetary policy, financing constraints and investment efficiency." Nankai Business Review International 7, no. 1 (2016): 80–98. http://dx.doi.org/10.1108/nbri-11-2015-0027.

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Purpose – This paper aims to analyze the different impacts of monetary policy on the financing constraints of diverse enterprises from China by introducing the concepts of external and internal management factors, and on the investment efficiency of these enterprises with the help of “Hayek Triangle”. Design/methodology/approach – Based on the concept of human action, this paper builds an empirical model which is remarkably different from previous related researches and conducts an empirical test by using the chosen sample data of 312 Chinese listed private companies from 2003 to 2012. Finding

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7

Peiris, M. Udara, and Alexandros P. Vardoulakis. "Collateral and the efficiency of monetary policy." Economic Theory 59, no. 3 (2015): 579–603. http://dx.doi.org/10.1007/s00199-014-0857-4.

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8

Briec, Walter, Emmanuelle Gabillon, Laurence Lasselle, and Hermann Ratsimbanierana. "On measuring the efficiency of monetary policy." Economics Letters 117, no. 1 (2012): 182–85. http://dx.doi.org/10.1016/j.econlet.2012.04.107.

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9

Zhabina, Svetlana. "Econometric Analysis of Bank Lending Channel Efficiency in Russia." Moscow University Economics Bulletin 2017, no. 3 (2017): 61–79. http://dx.doi.org/10.38050/01300105201734.

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The paper investigates the relationship between monetary policy indicator and bank lending in Russia using dynamic panel regressions and quarterly banks’ balance sheets data for the period of 2010- 2016. The main purpose of the paper is to identify bank characteristics, which determine the reaction of bank lending to monetary policy shocks. The results support the existence of a bank lending channel of monetary transmission. The extent to which banks change lending in response to monetary policy changes depends on banks’ liquidity, size and refinancing from the central bank.

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10

Mostéfaoui, Sofiane, and Fatiha Allali. "The Strategy Of The Inflation Targeting And The Efficiency Of The Monetary Policy." Journal of Economic Growth and Entrepreneurship JEGE 2, no. 2 (2019): 1–7. https://doi.org/10.5281/zenodo.4476574.

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<em>It is widely recognized that the strategy of the inflation targeting is the basic component of the monetary policy in many countries. The reason behind the widespread of this approach refers to the capability of the target process to enhance the efficiency of the monetary policy both in terms of objectives and execution. However, it should be noticed that the targeting framework is not an absolute panacea to the obstacles facing the policy makers, and this issue comes from the nature of the monetary policy per se. The latter could be considered more discretionally than a pure framework to

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11

Zabchuk, Halyna, and Olha Hnativ. "ANALYSIS OF FACTORS INFLUENCING THE EFFICIENCY OF MONETARY POLICY: DOMESTIC REALITIES." Economic Analysis, no. 28(4) (2018): 131–42. http://dx.doi.org/10.35774/econa2018.04.131.

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Introduction. The article considers the main factors that influence the efficiency of monetary policy, analyses their influence on the efficiency of traditional instruments, which are directed by the NBU to stabilize the economic system, and suggests the improvement of the NBU monetary policy taking into account the factors that reduce its effectiveness. Purpose. The article aims to determine the factors that reduce the efficiency of monetary policy of the National Bank of Ukraine, and to develop the proposals, which intend to minimize its negative impact. Method (methodology). The following g

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12

Gbarato, Ledum Moses, Sunny Chekiri Monday Cookey, and Christian Gbarawae Nwikina. "Monetary Policy Regimes and Stock Market Efficiency in Nigeria (2009-2019)." International Journal of Advance Research and Innovation 8, no. 4 (2020): 20–29. http://dx.doi.org/10.51976/ijari.842005.

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In attempt to examine the relationship between monetary policy and stock market efficiency, two proximate monetary policy regimes were chosen for the study - Sanusi’s administration (2009-2014) and Emefiele’s administration (2015-2019). Employing the multiple regression (OLS) technique reveals that money supply, interest rate, and monetary policy rate, all exert positive and marginal influence on market capitalization under Emefiele’s administration (2015 - 2019), however, under Sanusi’s administration (2009-2014), MS and INT exert significant influence on MCAP, with INT and MPR showing negati

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13

Dietz, Sara. "Green Monetary Policy Between Market Neutrality And Market Efficiency." Common Market Law Review 59, Issue 2 (2022): 395–432. http://dx.doi.org/10.54648/cola2022030.

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Confronted with the challenges of climate change, the ECB adopted a Climate Change Action Plan in July 2021 and thereby joined forces with Member States and EU institutions to support Europe’s green transition to a CO2-neutral environment. The measures in the Action Plan aim to internalize climate risks, integrating sustainability-linked bonds into the monetary policy framework and hint at an even more active climate policy by way of preferential green bond purchases. This article analyses to what extent the mandate of the ECB allows for such a green monetary policy, focusing on the admissibil

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14

Mendoza Vargas, Oscar Manuel. "Limited Efficiency of Monetary Policy on Local Inflation Rates and Output." Pensamiento Crítico 28, no. 2 (2023): 39–62. http://dx.doi.org/10.15381/pc.v28i2.27088.

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This is the second article of a series of two that documents the limited efficiency of the Peruvian monetary policy on local inflation rates. With this research I deepen on my preliminary findings on the unobserved effects of Peruvian monetary policy using departmental Phillips curves. On this occasion, the motivation seeks to answer the question: by incorporating the NAIRU-Keynesian and neo-Keynesian structural model criteria for the Peruvian case, what other unobserved effects of monetary policy would be found in Peru’s departments? Two models of structural equations are developed to estimat

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15

Ali Maram, Mohammed. "Measuring the Impact of Monetary Policy on the Efficiency of Sudanese Islamic Banks." International Journal on Recent Trends in Business and Tourism 08, no. 01 (2024): 41–53. http://dx.doi.org/10.31674/ijrtbt.2024.v08i01.004.

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This study explores the influence of monetary policy on the efficiency of Sudanese Islamic Banks. It aims to determine the impact of monetary policy on bank efficiency, identify influential aspects, and provide recommendations for policy adjustments. The research uses both qualitative and quantitative methods, collecting primary data through surveys and interviews with bank executives and policymakers, and secondary data from bank financial reports and central bank policy documents. The findings reveal a significant relationship between monetary policy and bank efficiency, with specific aspect

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16

Hameed, Dr Abdul Aziz Shwaish Abdul. "Quantitative Easing and Monetary Policy Legitimate Perspective." Webology 19, no. 1 (2022): 3070–88. http://dx.doi.org/10.14704/web/v19i1/web19203.

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Many economists, monetary policy makers and bankers view interest rates as an efficient tool for allocating funds, evaluating the efficiency of projects, and measuring financing costs, and that they are the main indicator of many economic variables and phenomena. Other variables, and enables those authorities to implement the monetary policy desired by them. This has led to an important fact, which is that interest rates have lost their effectiveness as a tool for resource allocation or as an influence on economic, credit and monetary policies, and then central banks resorted to new and unconv

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17

Kallianiotis, Ioannis N. "The Effectiveness and Efficiency of the New Public Policies." Athens Journal of Business & Economics 11, no. 2 (2025): 121–58. https://doi.org/10.30958/ajbe.11-2-1.

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In this paper we deal with the recent (1995-2023) Federal Reserve operated monetary policies, which were two unprecedented and distinct monetary policy regimes. The inflation stabilization era (1995-2008) and the zero-interest rate era (December 15, 2008-December 15, 2015) and again (March 15, 2020-March 15, 2022). These different monetary policy regimes provided various outcomes for interest rates, financial markets, inflation, cost of living, employment, international trade, and real economic growth. Then, a new fiscal policy was imposed in 2021. Some of the important, but not so beneficial

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18

GRAHAM, PHIL, and GRAHAM HODGES. "RECENT DEVELOPMENTS AFFECTING THE EFFICIENCY OF MONETARY POLICY." Economic Papers: A journal of applied economics and policy 15, no. 1 (1996): 47–56. http://dx.doi.org/10.1111/j.1759-3441.1996.tb00923.x.

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19

JONAS, MICHAEL R., and SHARMILA K. KING. "BANK EFFICIENCY AND THE EFFECTIVENESS OF MONETARY POLICY." Contemporary Economic Policy 26, no. 4 (2008): 579–89. http://dx.doi.org/10.1111/j.1465-7287.2008.00102.x.

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20

Ge, Tingting. "Time-varying transmission efficiency of China’s monetary policy." China Economic Journal 12, no. 1 (2018): 32–51. http://dx.doi.org/10.1080/17538963.2018.1556421.

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21

Shapran, Vitaliy. "Monetary incentives and fiscal policy mutual influence." VUZF Review 6, no. 4 (2021): 180–86. http://dx.doi.org/10.38188/2534-9228.21.4.21.

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The article considers the problems and practice of using the tools of monetary and fiscal stimulation of the economy. The main problems of the application of monetary instruments in practice in emerging markets are identified. The author paid special attention to the definition of classical monetary policy instruments and their role in economic growth in emerging markets. Critical assessment of the role of monetary policy instruments in stimulating economic growth is based on the practice of central banks in emerging markets. Recommendations for the analysis of the efficiency of monetary trans

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22

Klump, Rainer, and Anne Jurkat. "MONETARY POLICY, FACTOR SUBSTITUTION, AND CONVERGENCE." Macroeconomic Dynamics 22, no. 1 (2016): 63–76. http://dx.doi.org/10.1017/s1365100516000481.

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In this paper, we examine the influence of monetary policy on the speed of convergence in a standard monetary growth model à la Sidrauski allowing for differences in the elasticity of substitution between factors of production. The respective changes in the rate of convergence and its sensitivities to the central model parameters are derived both analytically and numerically. By normalizing the constant elasticity of substitution (CES) production functions both outside the steady state and within the steady state, it is possible to distinguish between an efficiency and a distribution effect of

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23

N. Kallianiotis, Dr Ioannis. "The Questionable Effectiveness and Efficiency of the New Public Policies." International Journal of Economics, Business and Management Research 07, no. 12 (2023): 225–62. http://dx.doi.org/10.51505/ijebmr.2023.71214.

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In this paper we deal with the recent (1995-2023) Federal Reserve operated monetary policies, which were two unprecedented and distinct monetary policy regimes. The inflation stabilization era (1995-2008) and the zero-interest rate era (December 15, 2008-December 15, 2015) and again (March 15, 2020-March 15, 2022).These different monetary policy regimes provided various outcomes for interest rates, financial markets, inflation, cost of living, employment, international trade, and real economic growth. Then, a new fiscal policy was imposed in 2020. Some of the important results are that monetar

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24

Fedorova, Elena, and Elena Meshkova. "Monetary policy and market interest rates: literature review using text analysis." International Journal of Development Issues 20, no. 3 (2021): 358–73. http://dx.doi.org/10.1108/ijdi-02-2021-0049.

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Purpose This paper aims to examine the relationship between monetary policy and market interest rates. This paper examines the efficiency of interest rate channel used in monetary regulation as well as implementation of monetary policy under low interest rates. This paper examines and reviews the scientific literature published over the past 30 years to determine primary research areas, to summarize their results and to identify appropriate measures of monetary policy to be used in practice in changing economic environment. Design/methodology/approach This paper reviews 94 studies focused on t

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25

Bao, Shirui. "Monetary Policy and Enterprise Investment Efficiency: Perspective from Enterprise Financing Constraints." BCP Business & Management 35 (December 31, 2022): 327–34. http://dx.doi.org/10.54691/bcpbm.v35i.3312.

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Combining theoretical analysis and empirical research, this paper constructs a theoretical framework for the threshold model on the basis of a review and classification of relevant documents, for instance the empirical study on the existence of monetary policy bank credit channels and the study on the micro transmission mechanism of China's monetary policy credit channels. Based on the actual situation in China and the current state of China's enterprise financing policies, financing constraints, and investment efficiency, this article selects the data of listed companies in China from 2015 to

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26

Hancock, D. G. "Fiscal policy, monetary policy and the efficiency of the stock market." Economics Letters 31, no. 1 (1989): 65–69. http://dx.doi.org/10.1016/0165-1765(89)90113-4.

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27

Hassan, Adamu, and Zubairu Ahmad. "Monetary Policy and Financial Performance of Consumer Goods Manufacturing Firms: Evidence from Flour Mills Nigeria Plc." Saudi Journal of Economics and Finance 6, no. 8 (2022): 257–63. http://dx.doi.org/10.36348/sjef.2022.v06i08.001.

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This study examines the effect of monetary policy on the financial performance of Flour Mills Nigeria plc using an annual dataset from 1990 to 2021. The financial performance is measured as return on assets while monetary policy is a proxy by monetary policy rate. Other control variables in the model are exchange rate, inflation rate and managerial efficiency. In the estimation, this study employed the autoregressive distributed lag (ARDL) model. The results of this study reveal that monetary policy has a significant negative effect on the financial performance of flour mills plc while the exc

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28

Ahmed, Muhammad Ashfaq, and Nasreen Nawaz. "Dynamics of Money Market and Monetary Policy." Modern Economy and Management 3 (July 11, 2024): 14. http://dx.doi.org/10.53964/mem.2024014.

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Objective: Contemporary research on monetary policy does not account for the loss/gain in efficiency during the adjustment of the market and the after-policy vis-a-vis pre-policy equilibrium in the money market. After a central bank exercises a monetary policy, the central bank’s cost as a supplier of money rises to pre-policy cost plus the per unit money cost incurred due to monetary policy, which affects money supply and pushes the money market out of equilibrium. Demand and supply of money along with the interest rate follow certain adjustment mechanism until the final equilibrium arrives.

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29

Dinets, D. A. "Concerning Possible Trends in Raising Effectiveness of Finance Policy of State." Vestnik of the Plekhanov Russian University of Economics, no. 6 (November 26, 2024): 87–100. http://dx.doi.org/10.21686/2413-2829-2024-6-87-100.

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The goal of the article is to substantiate parameters of monetary-credit and budget-taxation policy, which ensure extended reproduction on a scale of national economy. To attain this goal the following steps were taken: analysis of theoretical and applied aspects of mutual impact of monetary-credit and budget-taxation policy on parameters of macro-economic dynamics; investigation of reasons for low efficiency of transmission mechanism of monetarycredit policy; an attempt to explain causes of low efficiency of channels in transmission mechanism in view of present geo-political situation; propos

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30

Ngakosso, Antoine. "Impact Différencié de la Politique Monétaire Commune sur les États Membres d'Une Union Monétaire : Cas de la CEMAC." Revue Internationale des Économistes de Langue Française 5, no. 2 (2020): 104–25. http://dx.doi.org/10.18559/rielf.2020.2.5.

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This paper analyses the misalignments that could result from the common CEMAC monetary policy under macroeconomic stabilization in case of the implementation of the standard Taylor rule by the Central Bank of Central African States (BEAC). Considering a Taylor rule per country solely based on national economic conditions, on the one hand, and another with aggregate data for all countries on the other hand, it transpired that the BEAC ' s monetary policy decision depends on the overall size of the union, whose priority goal is to maintain the fixed parity of its currency with the euro. Thus, it

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31

Anikin, V. Yu. "Institutions of State Power in the Sphere of Monetary Policy: Their Role and Instruments of Regulation." Herald of Omsk University. Series: Historical studies, no. 1 (2018): 122–31. http://dx.doi.org/10.24147/2312-1300.2018.1.122-131.

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The article considers monetary policy in the key of the institutions of its formation and realization. Particularly, the role and place of the Central Bank in the system of state policy as the main institution for implementing the state's monetary and credit policy is examined. The tools for regulating of the monetary and credit sphere are reviewed, the estimation of their efficiency is given, and the problems of realization are presented. The vectors for the development of monetary policy are proposed.

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32

Fetisov, G. "Russian Monetary Policy: Objectives, Instruments, and Rules." Voprosy Ekonomiki, no. 11 (November 20, 2008): 4–24. http://dx.doi.org/10.32609/0042-8736-2008-11-4-24.

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The article gives full treatment to monetary policy problems which are essential for the transition of the Russian economy to innovation-based development. The necessity for achieving all monetary policy objectives, instead of reducing them to inflation targeting, is justified. Systemic and structural approach to providing promotional monetary policy is suggested. The elaborated package of monetary policy tools allows ensuring higher efficiency of innovation-based economic development. Reasons for the relevance of the Central Bank of Russia discount rate decrease are given. Some general conclu

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33

Anwar, Cep Jandi, Maisya Fitri, Indra Suhendra, Roni Kambara, and Asas Worasutr. "Monetary policy efficiency, institutional quality, and financial inclusion in developing countries." Asian Economic and Financial Review 15, no. 4 (2025): 537–48. https://doi.org/10.55493/5002.v15i4.5355.

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This paper aims to assess how the efficiency of monetary policy and institutional quality affect financial inclusion in 41 developing countries for the period 2010–2023. The study utilizes annual data, employs panel dynamic data analysis, and applies the generalized method of moments (GMM) to ensure the accuracy of the results. This study's findings indicate that monetary policy and institutional quality are essential for the financial sector's integration process. The GMM study indicates that monetary policy efficacy, institutional quality, and central bank interest rates positively influence

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34

Pietryka, Ilona. "The efficiency of monetary policy instruments of the European Central Bank in liquidity regulating in euro area." Equilibrium 5, no. 2 (2010): 195–208. http://dx.doi.org/10.12775/equil.2010.035.

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Mechanism of forming of liquidity level of national central banks participating in ESCB is clear. It is based on centralized and decentralized operations. The ECB decides on the direction of monetary policy, and the national central banks implement monetary policy taking into account those guidelines as well as the conditions of their country. The aim of the paper is to estimate the efficiency of the EBC monetary policy in regulating the liquidity of the banking system in euro area. The aim was achieved by characterizing the organizational and balance relationship banks of the Eurosystem becau

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35

Mandel, Martin, and Vladimír Tomšík. "Monetary Policy Efficiency in Conditions of Excess Liquidity Withdrawal." Prague Economic Papers 23, no. 1 (2014): 3–23. http://dx.doi.org/10.18267/j.pep.470.

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36

Purwanda, Eka, and Siti Herni Rochana. "Measurement of the efficiency of monetary policy in Indonesia." Economic Journal of Emerging Markets 9, no. 2 (2017): 138–49. http://dx.doi.org/10.20885/ejem.vol9.iss2.art3.

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37

Bandura, O. "The efficiency of monetary (regulation) policy and sustainable growth." Ekonomìčna teorìâ 2017, no. 1 (2017): 77–93. http://dx.doi.org/10.15407/etet2017.01.077.

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RIBONI, ALESSANDRO, and FRANCISCO J. RUGE-MURCIA. "The Dynamic (In)Efficiency of Monetary Policy by Committee." Journal of Money, Credit and Banking 40, no. 5 (2008): 1001–32. http://dx.doi.org/10.1111/j.1538-4616.2008.00144.x.

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39

Le, Khanh Duy. "Impact of monetary policy on Vietnamese commercial banks’ efficiency." Journal of Development and Integration, no. 72 (October 25, 2023): 3–10. http://dx.doi.org/10.61602/jdi.2023.72.01.

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This study was conducted to examine the impact of the State Bank’s monetary policy on the efficiency of Vietnamese commercial banks. Specifically, how do changes in refinancing interest rates and money supply affect the efficiency of commercial banks? The results of the study on a sample of 25 Vietnamese banks during the period 2009-2021 using the 2-step SGMM regression method show that the impact of refinancing interest rates and money supply on the bank efficiency is not consistent. While refinancing interest rates have a positive impact on bank efficiency measured by ROA and ROE, money supp

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Гюльмагомедова, Г. А. "Transmission mechanism of monetary policy." Экономика и предпринимательство, no. 8(133) (November 16, 2021): 310–13. http://dx.doi.org/10.34925/eip.2021.133.8.057.

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В статье рассматривается сущность и необходимость трансмиссионного механизма при реализации денежно-кредитной политики. В данной научной работе определены основные этапы функционирования и каналы трансмиссионного механизма. В статье изучена сущность и роль каналов трансмиссионного механизма, рассмотрена динамика ключевой ставки Банка России за последние годы и взаимосвязь размера ключевой ставки с кредитованием субъектов экономики, а также выявлены основные ограничения и мероприятия, направленные на повышение работоспособности трансмиссионного механизма денежно-кредитной политики. The article

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Kóczián, Balázs, András Kollarik, Lóránt Kiss, and Péter Simon. "Central Bank Digital Currency: A New Instrument of Monetary Policy." Pénzügyi Szemle = Public Finance Quarterly 67, no. 4 (2022): 522–38. http://dx.doi.org/10.35551/pfq_2022_4_3.

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Central bank digital currency is a claim on the central bank, which is accessible by a wide range of customers, digital, flexible and potentially interest-bearing. The new asset is being researched in many countries, and widening the accessibility of financial services, creating the digitalized form of cash with monetary policy considerations being among its motivations. An interest-bearing central bank digital currency could make the central bank’s monetary transmission direct, which could improve the efficiency of monetary policy. Furthermore, the asset could help to strengthen competition a

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42

Wang, Shenling, Ling Jiang, and Cai Chang. "Does the Uncertainty of Monetary Policy Affect the Efficacy of Interest Rate Transmission Mechanisms? Micro-Evidence from the Investment-Capital Cost Sensitivity of Chinese Enterprises." International Journal of Global Economics and Management 2, no. 1 (2024): 66–83. http://dx.doi.org/10.62051/ijgem.v2n1.09.

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The uncertainty of monetary policy, as a latent cost of monetary policy regulation, increasingly captures the attention of the theoretical community and policy authorities worldwide. Employing empirical analysis on data from China's A-share non-financial listed companies between 2003 and 2019, it is found that monetary policy uncertainty undermines corporate confidence in development, leading to a diminished enthusiasm for adjusting investment strategies in response to economic fluctuations. This hampers the sensitivity of corporate investment to capital costs, suggesting that monetary policy

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43

Acharya, Sushant, Edouard Challe, and Keshav Dogra. "Optimal Monetary Policy According to HANK." American Economic Review 113, no. 7 (2023): 1741–82. http://dx.doi.org/10.1257/aer.20200239.

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We study optimal monetary policy in an analytically tractable heterogeneous agent New Keynesian model with rich cross-sectional heterogeneity. Optimal policy differs from a representative agent benchmark because monetary policy can affect consumption inequality, by stabilizing consumption risk arising from both idiosyncratic shocks and unequal exposures to aggregate shocks. The trade-off between consumption inequality, productive efficiency, and price stability is summarized in a simple linear-quadratic problem yielding interpretable target criteria. Stabilizing consumption inequality requires

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Armstrong, Angus, and Monique Ebell. "The unintended consequence of English votes for English laws." National Institute Economic Review 233 (August 2015): R37—R44. http://dx.doi.org/10.1177/002795011523300105.

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The Scotland Bill 2015–16 would make the Scottish government one of the most powerful sub-central governments in the OECD in terms of its control over spending and taxation. The UK government has also announced plans to introduce ‘English Votes for English Laws’ (EVEL), where the support of a majority of English MPs would be necessary to pass legislation deemed to impact on England only. The objective of this paper is to examine the potential for spillovers to arise in monetary unions of asymmetric nations where fiscal policy choices are taken locally. We extend a model of Chari and Kehoe (200

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Polbin, A. V., and M. A. Kropocheva. "THE IMPACT OF DOWNWARD NOMINAL WAGE RIGIDITY ON FISCAL AND MONETARY POLICY IN RUSSIA." Вестник Института экономики Российской академии наук, no. 2 (2025): 93–119. https://doi.org/10.52180/2073-6487_2025_2_93_119.

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This paper evaluates the impact of downward nominal wage rigidity (DNWR) on fiscal and monetary policy for Russian economy. We obtain a piecewise linear approximation of the solution for DSGE model, which makes it possible to take into account the constraint on wage dynamics. The results indicate greater efficiency of fiscal policy during a recession compared to an economic expansion. In addition, the dependence of the multipliers value on the nature of the shock affecting the economy is noted. The efficiency of monetary policy, on the contrary, is lower in the presence of DNWR. The results of

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Andryushin, S., and V. Burlachkov. "Monetary Policy and Global Financial Crisis: Methodological Aspects and Lessons for Russia." Voprosy Ekonomiki, no. 11 (November 20, 2008): 38–50. http://dx.doi.org/10.32609/0042-8736-2008-11-38-50.

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The article develops the integral approach to formulating and realizing modern monetary policy which is capable to replace the traditional one, characterized as fragmental and non-systematic. Global financial crisis has revealed the absence of sufficient instruments of monetary policy and led to transformation of central banking functions. Monetary authorities are now not just lenders of last resort, but actually sponsors of financial market of last resort. The efficiency of monetary policy in future must be formed by its integrity (interactions of its objects) and close connections with real

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Zhang, Hanlin, and Dong Guo. "International Currency Circulation and Monetary Policy." International Journal of Innovation and Entrepreneurship 3, no. 1 (2024): 1. http://dx.doi.org/10.56502/ijie3010001.

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This paper explores the challenges in the internationalization of local currencies and the establishment of a robust International Currency Circulation (ICC) mechanism. Employing an innovative Agent-Based Model (ABM) grounded in Behavioral Finance, our research examines the interdependence between currency circulation and inter-bank treasury bond market. Through simulations, we analyze the impacts of monetary policies, increased overseas holdings, and investor sentiments on treasury bond prices and market activities. Our findings underscore the pivotal role of a robust monetary policy, the str

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Rehman, Shafiq Ur, Sajjad Nawaz Khan, Waseem Subhani, Iftikhar Mehboob, Muhammad Noman Yaseen, and Asad Qayoom. "Impact of Distributed Ledger Technology (DLT) and Fintech Investment on Central Bank Policy and Monetary Policy Effectiveness." Bulletin of Business and Economics (BBE) 12, no. 3 (2023): 202–10. http://dx.doi.org/10.61506/01.00022.

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Central banks confront enormous hurdles in preserving the efficiency of their monetary policies in the face of rapid technological improvements in the financial industry. The effects of Distributed Ledger Technology (DLT) adoption, fintech investment, and regulatory flexibility by central banks on the effectiveness of monetary policy is investigated in this paper. Data were gathered quantitatively through surveys of financial professionals, policymakers, and central bank officials. The findings demonstrated that DLT adoption, fintech investment, and regulatory flexibility have a considerable p

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Wang, Yilin. "Research on the impact effect of enterprise digitalization on “from real to virtual”: concurrently discuss the regulation effect of macro policy." BCP Business & Management 29 (October 12, 2022): 532–39. http://dx.doi.org/10.54691/bcpbm.v29i.2319.

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The digitalization process of enterprises is accelerating day by day, which has brought many influences on the development of enterprises. This paper discusses the impact of digitalization of listed enterprises on financialization from 2013 to 2020 and explores ways and methods to change this relationship combined with macro policies. The results show that: first, when the digitalization degree of enterprises increases, their financialization level will also increase; Second, monetary policy has a significant moderating effect on the economic relationship between enterprise digitalization and

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Seheda, Liudmyla. "DIRECTIONS OF ADAPTATION OF THE NBU MONEY AND CREDIT ADJUSTMENT TO THE INFLATION TARGETING MODE ON THE EXAMPLE OF NEW ZEALAND." Economic Analysis, no. 28(1) (2018): 196–205. http://dx.doi.org/10.35774/econa2018.01.196.

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Introduction. The article deals with the main problems of adaptation of the NBU monetary and credit regulation to the inflation-targeting mode. The main reasons for the low efficiency of the introduction of world experience in the field of monetary policy to domestic realities are considered. The methodical recommendations for increasing the efficiency of monetary regulation, optimizing the monetary mode of inflation targeting and implementing the monetary rule in the practice of realization of monetary policy of the NBU are developed. Purpose. The article aims to study the world experience in

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