Title:Monetary Policy Committees, Universal Banks, and Public Recapitalisations
Author(s):MARIATHASAN, MikeDate:2011Type of Publication:ThesisSeries/Report no.:EUI PhD thesesAbstract:The three papers in this thesis differ considerably with respect to methodology and topic; yet, they all reflect my overarching interest in the design of economic policies and the institutions that execute them. They are, ...
Title:Money Demand Stability and Inflation Prediction in the Four Largest EMU Countries
Author(s):CARSTENSEN, Kai; HAGEN, Jan; HOSSFELD, Oliver; NEAVES, Abelardo SalazarDate:2009Type of Publication:ArticleAbstract:In this paper, we analyze the money demand functions of the four largest EMU countries and of the four-country (EMU-4) aggregate. We identify reasonable and stable money demand relationships for Germany, France and Spain ...
Title:Money is an Experience Good: Competition and Trust in the Private Provision of Money
Author(s):MARIMON, Ramon; NICOLINI, Juan Pablo; TELES, PedroDate:2011-01-01Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:We study the interplay between competition and trust as efficiency-enhancingmechanims in the private provision of money. With commitment, trust is automatically achieved and competition ensures efficiency. Without commitment, ...
Title:Money is an Experience Good: Competition and Trust in the Private Provision of Money
Author(s):MARIMON, Ramon; NICOLINI, Juan Pablo; TELES, PedroDate:2011-01-01Type of Publication:Working PaperSeries/Report no.:EUI MWPAbstract:We study the interplay between competition and trust as efficiency-enhancing mechanisms in the private provision of money. With commitment, trust is automatically achieved and competition ensures efficiency. Without ...
Title:Money, Financial Stability and Efficiency
Author(s):ALLEN, Franklin; CARLETTI, Elena; GALE, DouglasDate:2011-01-16Type of Publication:Working PaperSeries/Report no.:Wharton Financial Institutions CenterAbstract:Most analyses of banking crises assume that banks use real contracts. However, in
practice contracts are nominal and this is what is assumed here. We consider a standard
banking model with aggregate return risk, aggregate ...
Title:Money, Financial Stability and Efficiency
Author(s):ALLEN, Franklin; CARLETTI, Elena; GALE, DouglasDate:2012Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Most analyses of banking crises assume that banks use real contracts. However, in practice contracts are nominal and this is what is assumed here. We consider a standard banking model with aggregate return risk, aggregate ...
Title:Money, Financial Stability and Efficiency
Author(s):ALLEN, Franklin; CARLETTI, Elena; GALE, DouglasDate:2011-01-01Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Most analyses of banking crises assume that banks use real contracts. However, in practice contracts are nominal and this is what is assumed here. We consider a standard banking model with aggregate return risk, aggregate ...
Title:A Monthly Indicator of the Euro Area GDP
Author(s):FRALE, Cecilia; MARCELLINO, Massimiliano; MAZZI, Gian Luigi; PROIETTI, TommasoDate:2008Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:A continuous monitoring of the evolution of the economy is fundamental for the decisions of public and private decision makers. This paper proposes a new monthly indicator of the euro area real Gross Domestic Product (GDP), ...
Title:Moral and Social Constraints to Strategic Default on Mortgages
Author(s):GUISO, Luigi; SAPIENZA, Paola; ZINGALES, LuigiDate:2009Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:We use survey data to study American households‘ propensity to default when the value of their mortgage exceeds the value of their house even if they can afford to pay their mortgage (strategic default). We find that 26% ...