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Essays in monetary policy and banking.

Granik, Anton.

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Essays in monetary policy and banking.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Essays in monetary policy and banking./
Author:	Granik, Anton.
Description:	89 p.
Notes:	Source: Dissertation Abstracts International, Volume: 64-04, Section: A, page: 1340.
Contained By:	Dissertation Abstracts International64-04A.
Subject:	Business Administration, Banking. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3088404

Essays in monetary policy and banking.
Granik, Anton.

Essays in monetary policy and banking. - 89 p.

Source: Dissertation Abstracts International, Volume: 64-04, Section: A, page: 1340.

Thesis (Ph.D.)--Columbia University, 2003.

This dissertation explores several aspects of the relationship between monetary policy and banking sector conditions. The first essay explores the nature of the Taylor-type monetary policy rules. It begins by noting that efforts to empirically fit the variants of Taylor's original rule to past policy must account for a hitherto unacknowledged factor in the conduct of monetary policy: the soundness of the banking sector. The empirical results of this essay suggest that proxies for banking sector solvency are, amongst other variables, a reliable predictor of the path of monetary policy over the 1980–1999 period. Therefore, adopting a monetary policy rule that does not take into account this factor will represent a significant departure from recent management of monetary policy.Subjects--Topical Terms:

1018458
Business Administration, Banking.

Essays in monetary policy and banking.
LDR:03048nam 2200289 a 45 001 931708
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008 110429s2003 eng d
035 $a (UnM)AAI3088404
035 $a AAI3088404
040 $a UnM $c UnM
100 1 $a Granik, Anton. $3 1255286
245 1 0 $a Essays in monetary policy and banking.
300 $a 89 p.
500 $a Source: Dissertation Abstracts International, Volume: 64-04, Section: A, page: 1340.
500 $a Sponsor: Alexei Onatski.
502 $a Thesis (Ph.D.)--Columbia University, 2003.
520 $a This dissertation explores several aspects of the relationship between monetary policy and banking sector conditions. The first essay explores the nature of the Taylor-type monetary policy rules. It begins by noting that efforts to empirically fit the variants of Taylor's original rule to past policy must account for a hitherto unacknowledged factor in the conduct of monetary policy: the soundness of the banking sector. The empirical results of this essay suggest that proxies for banking sector solvency are, amongst other variables, a reliable predictor of the path of monetary policy over the 1980–1999 period. Therefore, adopting a monetary policy rule that does not take into account this factor will represent a significant departure from recent management of monetary policy.
520 $a The second essay explores the usefulness of conducting supervisory bank examinations. It surveys recent empirical literature to look at this issue from two perspectives: (1) potential contribution of supervisory bank data to macroeconomic forecasts and (2) the adoption by the government of a more market-oriented approach to bank supervision. The reviewed studies suggest that while supervisory data are of limited use for central bank forecasts of inflation and unemployment, it is still possible that such information may be helpful to private forecasters. In addition, it appears that markets correctly assess changes in bank financial conditions, and that government oversight generates little additional information beyond already existing public knowledge.
520 $a The final essay of this dissertation reexamines the relationship between short term interest rates and bank profitability. It uses modern dynamic panel-data methods to test the widespread notion that commercial banks “borrow short and lend long”. Such a notion implies that market rate increases are negatively correlated with bank profits. The empirical results presented in this chapter indicate that commercial bank profits are positively correlated with interest rates, though the magnitude of this correlation is not economically large. Also, there is no evidence that interest rate volatility adversely affects bank profits.
590 $a School code: 0054.
650 4 $a Business Administration, Banking. $3 1018458
650 4 $a Economics, General. $3 1017424
690 $a 0501
690 $a 0770
710 2 0 $a Columbia University. $3 571054
773 0 $t Dissertation Abstracts International $g 64-04A.
790 $a 0054
790 1 0 $a Onatski, Alexei, $e advisor
791 $a Ph.D.
792 $a 2003
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3088404