Monetary Policy Divergence and Central Banking in the New Era

Bagis, Bilal

doi:10.1007/978-3-319-47172-3_3

Cited by 5 publications

(8 citation statements)

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“…The US (and to a certain extent, the UK) is the only economy doing relatively well and it is growing much faster than the rest of the Western bloc economies. This has led to economic and financial divergence among the world economies (Bagis, 2017). We therefore follow another earlier argument made in Bagis (2017), that the policy objectives and the primary concerns have fundamentally shifted.…”

Section: The Global Economy: Then and Nowmentioning

confidence: 75%

“…The asymmetric nature of the shocks to different world economies makes it different from the comparable crises of the 1930s and of 1907. Meanwhile, as the global economy is transforming and global economy's equilibrium is shifting (along with the changing nature of the crisis); the subsequent responses are also changing (Bagis, 2017;Pimco, 2015). While fiscal policies were generally consulted during the Great Depression period of the 1930s, during the Great Recession of 2007-09, monetary policy and in particular unconventional measures were effectively implemented to deal with the global financial crisis.…”

Section: The Global Economy: Then and Nowmentioning

confidence: 99%

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Turkey and the OIC: Greater Economic Cooperation, Opportunities and Challenges

Bagis

Yurtseven

2017

SSRN Journal

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Bilal Bağış was born in Bingol in 1984. He has a multidisciplinary B.Sc. (combining engineering with a business degree) from ITU (2006), a theoretically focused M.A. in Economics from Sabanci University ( 2009) and a Ph.D. degree in Economics from the University of California ( 2014). His research interests lie in international finance, monetary economics, and macroeconomics. He has taught various graduate and undergraduate level Economics, Math and Finance courses at prestigious universities. Since his return back to academia, in 2015, he has had numerous domestic and international presentations and publications.

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Section: The Global Economy: Then and Nowmentioning

confidence: 75%

Section: The Global Economy: Then and Nowmentioning

confidence: 99%

Turkey and the OIC: Greater Economic Cooperation, Opportunities and Challenges

Bagis

Yurtseven

2017

SSRN Journal

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“…Monetary policy is changing: at country level, within a country and over time. It is meanwhile diverging across national economies (Bagis, 2017). We may see a move back to the conventional tools such as the interest rate channel (that was indeed helpful at some point in the past) or to more unconventional tools such as forward guidance.…”

Section: Resultsmentioning

confidence: 99%

“…Yet, those good days are long gone. Monetary policies are diverging, nowadays (Bagis, 2017). Even among the developed economies...…”

Section: A New World Of the Post-2008mentioning

confidence: 99%

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Central Banking in the New Era

Bagis¹

2017

EJEF

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This paper analyzes the evolution of central banking, and in particular the American experience of central banking. It provides projections for the future of central banking in the new era of post 2008. The paper initially demonstrates recent improvements in the financial and banking sectors, regulations and different measures of monetary and financial rules both in the USA and the rest of the advanced economies. Then, it claims institutions, such as central banks, will gain new objectives and more significance in this new era and thus will be given new roles, over time and along with the improvements and deepening in the financial system. The paper argues centuries long central bank evolution is not complete yet and that more objectives should be expected to come forward. In that line, there is need for a shift in the conventional policy measures. New trends in central banking such as the helicopter money, popular nominal GDP targeting regime and the retro developmental central banking are all critically analyzed. The paper provides a breakdown of financial development and central banking activities in a historical context and provides a rationale and a new basis for possible future innovations.

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Volatility spillovers of cloud stocks: Evidence from China using the dynamic connectedness approach

Lin,

Cheung,

Yan

2024

Accounting & Finance

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Based on daily data from 2013 to 2022, this study examines the spillover effects of volatility between cloud stocks and other asset classes (global stocks, treasury bonds, gold and crude oil) using the VAR connectedness approach. The results show that there is a significant spillover effect from global stocks and crude oil markets to the cloud stock market. The spillover effects become stronger whenever there are shocks such as economic crisis, turbulence in the international financial markets, COVID‐19 and global inflation. However, nearly 91% of the variations of cloud stocks come from within, suggesting that the diversification/hedging value of cloud stocks is potentially high.

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Monetary Policy Divergence and Central Banking in the New Era

Cited by 5 publications

References 1 publication

Turkey and the OIC: Greater Economic Cooperation, Opportunities and Challenges

Turkey and the OIC: Greater Economic Cooperation, Opportunities and Challenges

Central Banking in the New Era

Volatility spillovers of cloud stocks: Evidence from China using the dynamic connectedness approach

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