Understanding Money Demand In The Transition From A Centrally Planned To A Market Economy
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| Author | : Anne-Laurie Delatte |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2013 |
| Genre | : Former communist countries |
| ISBN | : |
Download Understanding Money Demand in the Transition from a Centrally Planned to a Market Economy Book in PDF, Epub and Kindle
Fundamental changes in institutions during the transition from a centrally planned to a market economy present a formidable challenge to monetary policy decision makers. For the case of China, we examine the institutional changes in the monetary system during the process of transition and develop money demand functions that reflect these institutional changes. We consider seasonal unit roots and estimate long run, equilibrium money demand functions, explicitly taking into consideration the changes in the institutional characteristics of China's financial system. Using a newly compiled dataset that covers an unprecedented long time period of 1984-2010 at the quarterly frequency, we are able to draw conclusions on the transitions in households', firms', and aggregate money demand, on the role of the credit plan and interest rates, on the mechanisms of macroeconomic control during economic transition, and on theoretical questions in the development and money literature.
| Author | : Anne-Laurie Delatte |
| Publisher | : |
| Total Pages | : 46 |
| Release | : 2013 |
| Genre | : Demand for money |
| ISBN | : |
Download Understanding Money Demand in the Transition from a Centrally Planned to a Market Economy Book in PDF, Epub and Kindle
Fundamental changes in institutions during the transition from a centrally planned to a market economy present a formidable challenge to monetary policy decision makers. For the case of China, we examine the institutional changes in the monetary system during the process of transition and develop money demand functions that reflect these institutional changes. We consider seasonal unit roots and estimate long run, equilibrium money demand functions, explicitly taking into consideration the changes in the institutional characteristics of China's financial system. Using a newly compiled dataset that covers an unprecedented long time period of 1984-2010 at the quarterly frequency, we are able to draw conclusions on the transitions in households', firms', and aggregate money demand, on the role of the credit plan and interest rates, on the mechanisms of macroeconomic control during economic transition, and on theoretical questions in the development and money literature.
| Author | : Mr.Paul Louis Ceriel Hilbers |
| Publisher | : International Monetary Fund |
| Total Pages | : 34 |
| Release | : 1993-11-01 |
| Genre | : Business & Economics |
| ISBN | : 1451850948 |
Download Monetary Instruments and their Use During the Transition From a Centrally Planned to a Market Economy Book in PDF, Epub and Kindle
This paper discusses different instruments of monetary policy, and in particular the choice between direct and indirect instruments. It identifies the main characteristics of a country’s financial system that should be considered in selecting monetary instruments, and analyzes how these characteristics should influence that selection in countries that are progressing from a state-controlled to a market economy. The characteristics of the financial system during the initial stage of the transition sometimes favor relatively direct instruments. At this stage market-based variants of direct instruments may combine the necessary effectiveness in reducing monetary expansion with the need to introduce and stimulate competition in the financial markets. During this stage indirect instruments can be developed and tested (“belt and braces” approach). In later stages, as experience is gained, these indirect instruments can gradually replace the more direct controls.
| Author | : Shoukang Lin |
| Publisher | : International Monetary Fund |
| Total Pages | : 30 |
| Release | : 1992-08-01 |
| Genre | : Business & Economics |
| ISBN | : 1451960662 |
Download A Simple Monetary Model of a Shortage Economy Book in PDF, Epub and Kindle
During the transition from a centrally planned economy to a market economy, many countries seem to have experienced some degree of macroeconomic instability. This paper attempts to provide a theoretical explanation of this phenomenon. The paper develops a simple monetary model and shows how macroeconomic stability can be achieved in a rigid centrally planned economy, despite the inherent structural imbalances and irrational price system. On the other hand, the study shows that without hardening enterprise budget constraints, wage and price decontrol tends to destablize the economy and may lead to persistent budget deficits and inflation. The paper also provides a rigorous analysis of household savings and money demand in a shortage economy, and clarifies the somewhat confusing concept of “monetary overhang” in the literature.
| Author | : Anne-Laure Delatte |
| Publisher | : |
| Total Pages | : 62 |
| Release | : 2011 |
| Genre | : |
| ISBN | : 9789524627221 |
Download Explaining Money Demand in China During the Transition from a Centrally Planned to a Market-based Monetary System Book in PDF, Epub and Kindle
| Author | : Mr.Andrew Feltenstein |
| Publisher | : International Monetary Fund |
| Total Pages | : 38 |
| Release | : 1990-10 |
| Genre | : Business & Economics |
| ISBN | : |
Download Fiscal Policy During the Demise of Central Planning Book in PDF, Epub and Kindle
This paper constructs an intertemporal general equilibrium model designed to examine an economy in transition from central planning to being market oriented. A numerical algorithm is developed to obtain a solution for the model. Simulations using stylized country-specific data examine the effects of price controls during the transition period, as well as of imposing taxes on returns to investment, and on interest earned on private savings. The paper concludes that, under certain circumstances, the taxation of investment as well as of private savings may have positive effects upon consumer welfare, if price distortions are sufficiently severe.
| Author | : Ziba Farhadian |
| Publisher | : |
| Total Pages | : 15 |
| Release | : 1983 |
| Genre | : Monetary policy |
| ISBN | : |
Download Fiscal Policy, Monetary Targets, and the Price Level in a Centrally Planned Economy Book in PDF, Epub and Kindle
| Author | : Mr.Dimitri G. Demekas |
| Publisher | : International Monetary Fund |
| Total Pages | : 50 |
| Release | : 1991-06-15 |
| Genre | : Business & Economics |
| ISBN | : 9781557751904 |
Download The Romanian Economic Reform Program Book in PDF, Epub and Kindle
This paper outlines the main characteristics and the development of the centrally planned economic sysetm in Romania before the beginnings of the transition to a market eonomy it then presents the design, objectives, and implementation of the reform program.
| Author | : Lawrence J. Gitman |
| Publisher | : |
| Total Pages | : 1455 |
| Release | : 2024-09-16 |
| Genre | : Business & Economics |
| ISBN | : |
Download Introduction to Business Book in PDF, Epub and Kindle
Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.
| Author | : Board of Governors of the Federal Reserve System |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2002 |
| Genre | : Banks and Banking |
| ISBN | : 9780894991967 |
Download The Federal Reserve System Purposes and Functions Book in PDF, Epub and Kindle
Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
