The Quality of Eligible Collateral, Central Bank Losses and Monetary Stability : An Empirical Analysis Paperback / softback
by Philipp Lehmbecker
Part of the Europaeische Hochschulschriften / European University Studies / Publications Universitaires Europeen series
Paperback / softback
- Information
Description
This book investigates to what extent the quality of eligible collateral is able to explain inflation.
Addressing this question, hypotheses derived from the Theory of Property Economics by Heinsohn & Steiger are tested.
Data are collected using a questionnaire, answered by central banks.
An index of the quality of eligible collateral is constructed.
Regression analyses are performed based on a sample of 62 countries for the period 1990 to 2003.
A negative, robust and statistically significant correlation between inflation and the quality of eligible collateral is found.
Central bank independence cannot contribute to the explanation of inflation.
The result supports the theory of Heinsohn & Steiger: Securitisation of central bank lending is crucial for price stability.
Information
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Available to Order - This title is available to order, with delivery expected within 2 weeks
- Format:Paperback / softback
- Pages:272 pages
- Publisher:Peter Lang AG
- Publication Date:10/04/2008
- Category:
- ISBN:9783631580769
Information
-
Available to Order - This title is available to order, with delivery expected within 2 weeks
- Format:Paperback / softback
- Pages:272 pages
- Publisher:Peter Lang AG
- Publication Date:10/04/2008
- Category:
- ISBN:9783631580769
