The Theory of Money, Wealth and Efficient Currency Markets : Modeling M5 as Money Supply with Crypto-Currency

2018 ◽  
Author(s):  
J.D. Agarwal ◽  
Manju Agarwal ◽  
Aman Agarwal ◽  
Yamini Agarwal
2018 ◽  
Vol 13 (02) ◽  
pp. 1850006 ◽  
Author(s):  
TAUFEEQ AJAZ ◽  
ANOOP S. KUMAR

We test for herding in crypto-currency markets using the CSAD method of Chang et al. (2000). Daily returns of 6 major crypto-currencies and market index CCI30 for the period 07-08-2015 t0 18-01-2018 is used. Possibility of herding under up and down market and high and low volatility is tested. Herding is found under up and down market activity, indicating over-enthusiasm and over-reaction. Market volatility is found not to have any significant impact on herding behavior. Herding is found to be dependent upon the market activity rather than market volatility.


Author(s):  
Rizki Rahma Kusumadewi ◽  
Wahyu Widayat

Exchange rate is one tool to measure a country’s economic conditions. The growth of a stable currency value indicates that the country has a relatively good economic conditions or stable. This study has the purpose to analyze the factors that affect the exchange rate of the Indonesian Rupiah against the United States Dollar in the period of 2000-2013. The data used in this study is a secondary data which are time series data, made up of exports, imports, inflation, the BI rate, Gross Domestic Product (GDP), and the money supply (M1) in the quarter base, from first quarter on 2000 to fourth quarter on 2013. Regression model time series data used the ARCH-GARCH with ARCH model selection indicates that the variables that significantly influence the exchange rate are exports, inflation, the central bank rate and the money supply (M1). Whereas import and GDP did not give any influence.


2004 ◽  
pp. 95-111
Author(s):  
T. Zolotoukhina

The problem of interaction between Russian currency appreciation and positive dynamics of macroeconomic indicators is studied. Main economic factors of ruble appreciation are analyzed. Consequences of the Russian Central Bank's policy directed to oppose ruble appreciation and problems in financial area due to the increase of money supply through the exchange market are considered. Influence of exchange rate appreciation on economic growth, inflation, export, import, capital flows are discussed. It is concluded that Russian ruble appreciation stimulates an increase in efficiency of the Russian economy.


2004 ◽  
pp. 4-27 ◽  
Author(s):  
V. Lisin

The problem of interaction between Russian currency appreciation and positive dynamics of macroeconomic indicators is studied. Main economic factors of ruble appreciation are analyzed. Consequences of the Russian Central Bank's policy directed to oppose ruble appreciation and problems in financial area due to the increase of money supply through the exchange market are considered. Influence of exchange rate appreciation on economic growth, inflation, export, import, capital flows are discussed. It is concluded that Russian ruble appreciation stimulates an increase in efficiency of the Russian economy.


2017 ◽  
pp. 131-141 ◽  
Author(s):  
V. Yefimov

The review discusses the institutional theory of money considered in the books by King and Huber, and the conclusions that follow from it for economic policy. In accordance with this theory, at present the most of the money supply is created not by the Central Bank but by private banks. When a bank issues a loan, new money is created, and when the loan is repaid this money is destructed. The concept of sovereign money involves the monopoly of money creation of the central bank. In this case the most of newly created money is handed over to the ministry of finance to implement government spending.


2008 ◽  
pp. 61-76
Author(s):  
A. Porshakov ◽  
A. Ponomarenko

The role of monetary factor in generating inflationary processes in Russia has stimulated various debates in social and scientific circles for a relatively long time. The authors show that identification of the specificity of relationship between money and inflation requires a complex approach based on statistical modeling and involving a wide range of indicators relevant for the price changes in the economy. As a result a model of inflation for Russia implying the decomposition of inflation dynamics into demand-side and supply-side factors is suggested. The main conclusion drawn is that during the recent years the volume of inflationary pressures in the Russian economy has been determined by the deviation of money supply from money demand, rather than by money supply alone. At the same time, monetary factor has a long-run spread over time impact on inflation.


2008 ◽  
pp. 31-45 ◽  
Author(s):  
S. Glazyev

The article critically considers basic postulates of quantity theory of money. It shows that they reflect the static state of the economy in abstract models of market equilibrium but do not prove true in actual economic processes. In contrast to monetarists’ view, prices can rise as well as fall even if other variables of the monetarist equation are stable. Thus it cannot be used for grounding monetary policy. The author comes to the conclusion on the dogmatism of Russian monetary authorities that seriously hinders the country’s economic development. He proposes to switch to market organization of money supply basing on regulation of the refinancing rate.


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