scholarly journals The Liquidity Effect: Changes in the Growth Rate of Money and the Ex Ante Real Rate of Interest

1981 ◽  
Author(s):  
W. W. Brown ◽  
G.J. Santoni
Keyword(s):  
Growth Rate ◽  
Liquidity Effect ◽  
Real Rate ◽  
Ex Ante

scholarly journals The Rate of Return on Everything, 1870–2015*

2019 ◽  
Vol 134 (3) ◽  
pp. 1225-1298 ◽  
Author(s):  
Òscar Jordà ◽  
Katharina Knoll ◽  
Dmitry Kuvshinov ◽  
Moritz Schularick ◽  
Alan M Taylor
Keyword(s):  
Growth Rate ◽  
Rate Of Return ◽  
Annual Data ◽  
Real Rate ◽  
Data Set ◽  
Long Run ◽  
Advanced Economies ◽  
New Findings ◽  
Asset Classes ◽  
New Evidence

Abstract What is the aggregate real rate of return in the economy? Is it higher than the growth rate of the economy and, if so, by how much? Is there a tendency for returns to fall in the long run? Which particular assets have the highest long-run returns? We answer these questions on the basis of a new and comprehensive data set for all major asset classes, including housing. The annual data on total returns for equity, housing, bonds, and bills cover 16 advanced economies from 1870 to 2015, and our new evidence reveals many new findings and puzzles.

scholarly journals The Puzzling Effect Of Money Shocks On Interest Rates

2011 ◽  
Vol 12 (2) ◽  
pp. 46
Author(s):  
Panita Piya-Oui ◽  
O. Felix Ayadi ◽  
Walter J. Mayer
Keyword(s):  
Growth Rate ◽  
Interest Rates ◽  
Money Supply ◽  
Inflation Rate ◽  
Negative Relationship ◽  
Liquidity Effect ◽  
Nominal Interest Rates ◽  
Real Balances ◽  
Lag Structure ◽  
Money Shocks

This study reexamines the controversial impact of changes in the growth rate of money supply on short-term nominal interest rates. Most of the early studies consistently find evidence that support a negative relationship between money shocks and interest rates. This relationship reflects the hypothesized liquidity effect. When the Fed accelerates the growth rate in money supply at given prices, output and inflation, the LM curve shifts, and real balances increase. Consequently, nominal an real interest rates are reduced. The results of the finite lag methods vary from one technique to another. However, the general trend points toward the vanishing liquidity effect. An infinite lag method which assumes a quadratic polynomial lag structure is also applied to data from 1972 through 1989. The results show a slight presence of the liquidity effect. The overall results also indicate that inflation rate as well as the variance of inflation rate slightly influence the relationship described above.

On the Two-Gap Analysis of Foreign Aid

1975 ◽  
Vol 6 (2) ◽  
pp. 151-163
Author(s):  
Mitsuo Ezaki
Keyword(s):  
Growth Rate ◽  
Foreign Aid ◽  
Gap Analysis ◽  
National Income ◽  
The Philippines ◽  
Asian Countries ◽  
Numerical Examples ◽  
Ex Ante ◽  
Welfare Implications ◽  
Southeast Asian Countries

The objective of this paper is to clarify the welfare implications of the two-gap analysis of foreign aid concentrating on the model developed by Chenery and Strout (1966) and to provide related numerical examples for four Southeast Asian countries (Republic of Vietnam, Thailand, Indonesia and the Philippines) where the real series in national income statistics are available.The two gaps are of course the investment-saving gap (IS gap) and the importexport gap (ME gap), both of which are in the ex ante sense and must be consistent with the target growth rate of output.

Ex ante coherence shifts

2020 ◽  
Vol 43 ◽  
Author(s):  
Dan Simon ◽  
Keith J. Holyoak
Keyword(s):  
Course Of Action ◽  
Ex Ante ◽  
Rational Reasoning

Abstract Cushman characterizes rationalization as the inverse of rational reasoning, but this distinction is psychologically questionable. Coherence-based reasoning highlights a subtler form of bidirectionality: By distorting task attributes to make one course of action appear superior to its rivals, a patina of rationality is bestowed on the choice. This mechanism drives choice and action, rather than just following in their wake.

The threshold energy for atom displacement in fcc metals

1990 ◽  
Vol 48 (4) ◽  
pp. 530-531
Author(s):  
Wilfried Sigle ◽  
Matthias Hohenstein ◽  
Alfred Seeger
Keyword(s):  
Growth Rate ◽  
Elevated Temperatures ◽  
Threshold Energy ◽  
Dislocation Loops ◽  
Absolute Minimum ◽  
Voltage Electron ◽  
Atom Displacement ◽  
Electron Microscopes ◽  
Fcc Metal

Prolonged electron irradiation of metals at elevated temperatures usually leads to the formation of large interstitial-type dislocation loops. The growth rate of the loops is proportional to the total cross-section for atom displacement,which is implicitly connected with the threshold energy for atom displacement, Ed . Thus, by measuring the growth rate as a function of the electron energy and the orientation of the specimen with respect to the electron beam, the anisotropy of Ed can be determined rather precisely. We have performed such experiments in situ in high-voltage electron microscopes on Ag and Au at 473K as a function of the orientation and on Au as a function of temperature at several fixed orientations.Whereas in Ag minima of Ed are found close to <100>,<110>, and <210> (13-18eV), (Fig.1) atom displacement in Au requires least energy along <100>(15-19eV) (Fig.2). Au is thus the first fcc metal in which the absolute minimum of the threshold energy has been established not to lie in or close to the <110> direction.

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