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Search Results: 1 - 10 of 439 matches for " At the money "
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Excessive Base Money and Global Financial Crisis in Relation to the Essence of the So-Called “Abenomics”  [PDF]
Goro Takahashi
Journal of Financial Risk Management (JFRM) , 2013, DOI: 10.4236/jfrm.2013.24013
Abstract: After the financial crisis of 2008, we are facing possibility of a global financial crisis further. Most of the financial crises have occurred in situations when there is so much money in the financial market, but they have not often occurred in cases when the market does not have enough money. This thought, however, is not general common sense in the financial academic field. Based on general understanding, the cause of financial crisis is the lack of money with the rise of interest rates in the financial market. If the lack of money is the reason for financial crisis, then we have never met with any financial crisis, because most leading countries have much money in the financial market in nowadays. According to theory of Economics, government deficit plus current account surplus means surplus of savings in the private sector of the country. Currently, most countries with big-scale economy have big deficits in their national accounts. But there is enough money in the business sector. I focus on this aspect and then analyze the base money policy of the central bank of some countries, and analyze its effect or the meaning of excessive base money in the financial market. As a general economic rule, the excess of money in a financial market causes a low interest rate. On the other hand, governments are faced with less money. If enough money in the money market flows to the treasury account, the government gets national fiscal balance. But it is not easy for most governments to create the balance. The reason behind this is the failure of a national economic and fiscal policy, including tax policy. Many countries and communities are facing problems with the flow of money from the private sector to the government. This problem is one of the biggest international issues which should be solved immediately (Taylor, 2009). Of course, we cannot neglect the fact that there are countries having little money even their private sector like Greece, Italy, Spain, and so on. Economic growth is the only measure to solve the financial problem in these countries. I do not consider these countries in this paper. The financial markets that I focus on in this paper are the US, the EURO Area, China and Japan. Many experts and economic politician worldwide consider “Abenomics” noteworthy. It aims at increasing base money in the financial market of Japan. The biggest purpose of this policy is for breaking away from deflation. Japanese Prime minister Abe also expects devaluation of the Yen, and increase in Japanese export. Later in this paper, we will see that the amount of
Application of SARIMA Model on Money Supply  [PDF]
Shichang Shen, Shan Chen
Open Journal of Statistics (OJS) , 2017, DOI: 10.4236/ojs.2017.71009
Abstract: In the paper, the data of the narrow money supply of China from January 2005 to March 2016 as sample, \"\" model is established by using Eviews6.0. Upon inspection, the model has good fitting effect (MAPE = 1.09) and high prediction accuracy. According to the results of the model, the paper forecasts the development trend of the narrow money supply of China and puts forward some suggestions to provide reference for monetary policy of China.
The Role of Money: Credible Asset or Numeraire?  [PDF]
Masayuki Otaki
Theoretical Economics Letters (TEL) , 2012, DOI: 10.4236/tel.2012.22031
Abstract: It is well known that money is neutral if 1) people hold the extraneous belief that it is an only numeraire and does not possess intrinstic value, and 2) new money is injected into an economy as its own interest in the OLG model under perfect information (Lucas [1] Theorem (2)). We find that whenever 1) is not satisfied and money is rationally held to have substance value, money becomes non-neutral even if we use the same model as Lucas [1].
A Simultaneous-Equation Model of Money Demand and Money Supply for Canada  [PDF]
Yu Hsing, Abul M. M. Jamal
Modern Economy (ME) , 2013, DOI: 10.4236/me.2013.41004

We estimate the money demand function and the money supply function for Canadasimultaneously by the three-stage least squares method. The inflation gap and the output gap are incorporated in the money supply function. Real money demand is positively affected by real GDP and negatively associated with the Treasury bill rate and the nominal effecttive exchange rate. Real money supply is positively influenced by the Treasury bill rate and negatively impacted by the inflation gap and the output gap.

Transfer Pricing-Based Money Laundering in Barter Trade  [PDF]
Dexiang Mei, Xiaojun Li
Modern Economy (ME) , 2015, DOI: 10.4236/me.2015.66071
Abstract: Barter trade attracts money launderers by its flexible contract, payment term of reciprocal letters of credit, and convenient capital flight and tax evasion. As far as fair value and invoiced value of the transacted goods are concerned, transfer price-based money laundering in barter trade is done by the means of deflated import-inflated export, inflated import-deflated export, deflated import-deflated export, and inflated import-inflated export, where the money laundered can be measured by capital flight, income tax evasion, import duty evasion, and VAT refund evasion in each case. So we should reinforce transaction supervision, promote intelligence exchange, perfect relative regulations, and improve anti-money laundering awareness and capabilities.
Assessing Money Laundering Risk of Financial Institutions with AHP: Supervisory Perspective  [PDF]
Ke Jia, Xi Zhao, Ling Zhang
Journal of Financial Risk Management (JFRM) , 2013, DOI: 10.4236/jfrm.2013.21004

This paper proposed a risk assessment model with which supervisory authorities can calculate the money laundering risk (MLR) level of financial institutions and make comparisons among multiple institutions. The model is based on the Analytic Hierarchy Process (AHP) and decomposes MLR into two second-tier criteria, i.e. Inherent Risk & Control Risk. AHP pair wise comparisons made by the experts from various fields are processed through AHP software to get the weight of each factor. Using this model, MLR of each financial institution could be obtained and certain comparison among them could be carried out.

Money Supply and Inflation in Nigeria: Implications for National Development  [PDF]
Olorunfemi Sola, Adeleke Peter
Modern Economy (ME) , 2013, DOI: 10.4236/me.2013.43018

The study examines money supply and inflation rate in Nigeria. Secondary data that ranged between 1970-2008 were sourced from the CBN Statistical Bulletin. The study used Vector Auto Regressive (VAR) model. The stationary properties of the model were also explored. The results revealed that money supply and exchange rate were stationary at the level while oil revenue and interest rate were stationary at the first difference. Results from the causality test indicate that there exists a unidirectional causality between money supply and inflation rate as well as interest rate and inflation rate. The causality test runs from money supply to inflation, from the interest rate to inflation and from interest rate to money supply. The paper concludes that government should use the level of inflation as an operational guide in measuring the effectiveness of its monetary policy.

The Correlation and Linear Regression Analysis between Annual GDP Growth Rate and Money Laundering in Albania during the Period 2007-2011*  [PDF]
Llambrini Sota, Fejzi Kolaneci
American Journal of Computational Mathematics (AJCM) , 2013, DOI: 10.4236/ajcm.2013.34042
This study is the first attempt to investigate the relationship between the annual GDP growth rate and money laundering in the Republic of Albania during the period 2007-2011. The main result of the study: there is a negative correlation between money laundering process and economic growth rate in Albania during the specified period; there is a negative correlation between money laundering and import, but there is a positive correlation between money laundering and the government expenditure, as well a positive correlation between money laundering and export.
The Effect of Money Supply on the Volatility of Korean Stock Market  [PDF]
Ki-Hong Choi, Seong-Min Yoon
Modern Economy (ME) , 2015, DOI: 10.4236/me.2015.65052
Abstract: We examined the potential relationships between changes in the money supplies of Korea and the United States and volatility of the Korean stock market using the GARCH, GJR-GARCH, and EGARCH models. We did not identify any such relationships, implying that changes in money supply do not influence the flow of information to the market. However, we found that the asymmetric effect of bad news on volatility was higher when contemporaneous changes in Korean and US money supply variables were included in the models. This indicates that changes in money supply did not affect Korean stock volatility directly. Finally, the results based on a variance model indicated that the money supply of the two countries had no effect on the Korean stock market. This formal study suggests that there is no significant forecasting power of past changes in money supply. Although stock returns and volatility are not directly affected by changes in the money supply, the influence of supply on macroeconomic activity should not be disregarded.
Agency Cost and Uncontrollable Risks in Hiding Fortune Overseas—Offshore Companies, Ownership of the Cannes Villa and Money Laundering in the Criminal Case of Bo Xilai  [PDF]
Juan Fang
Chinese Studies (ChnStd) , 2018, DOI: 10.4236/chnstd.2018.72011
Abstract: The Jinan Intermediate People’s Court adjudicated the charges of bribery, embezzlement and abuse of power against Mr. Bo Xilai, the former Communist Party Chief of Chongqing from August 22 to 26, 2013. Bo was charged of accepting a luxury villa located in Cannes from a tycoon named Xu Ming. A conspiracy named the Montage scheme, which used offshore companies in the purpose of committing bribery and covering the beneficiary of the property abroad, emerged during the trial. With focus on the role of the offshore companies played in financing function, fake business transactions, ownership structure related to the Cannes villa, this paper is trying to answer a couple of questions: what’s the time of accepting cash bribe paralleling with money laundering through a group of offshore companies, the time when the money was firstly transferred from the bribe-giver to the bribe-taker or the time when the bribe-taker became the beneficiary or controller of the assets purchased with the money? In finding out the beneficiary of a property under the name of an offshore company, is it legally required and technically possible to prove the consistence between the owner of a property and that of an offshore company?
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