Central Park

In this study, a TVP-VAR model with stochastic volatility is used. Initially, the TVP-VAR model was introduced by Primiceri (2005) and Nakajima (2011) to examine the changes in the transmission of monetary policy and the changes in the variances of the exogenous shocks. This study is the first to examine the changes in the transmission of remittances shocks on inflation, savings and TFP in Saudi Arabia over the period 1970-2012. Following Nakajima (2011), we set up the TVP-VAR model with…

Part 1 1.1 What are central bank and its main function? A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base in the state, and usually also prints the national currency, which usually serves as the state's legal tender…

International Political Economy or IPE is one of social science studies that focusing on the correlation between economy and politics internationally. IPE will be focuses on international economic growth, international welfare, international finance, hegemony, etc. In this subject, it seems like there is no boundaries between economy and politics. They related and influence one another. After the colonial period, Indonesia has experienced a lot of progress for both domestic affairs and foreign…

Mongols started out by conquering Central Asia, primarily the Khwarazmian dynasty. Kingdoms in Central Asia built elaborate walls around their cities giving them the upper hand in defense. Since the Mongols primarily focused on using catapults instead of regular soldiers when sieging a city, the Khwarazmians’ only advantage was eliminated. This was at the start of the Mongol conquest and their easy trouncing of those kingdoms led to the forging of an empire in Central…

Prior to the Great Depression, government policies related to economics were based on a policy called laissez-faire (“What Is Fiscal Policy?”). This French theory idealizes a smaller government role, arguing that the country would function more efficiently without government surveillance ("Laissez Faire Definition | Investopedia"). Popular in the 18th century around the globe, colonists opposed monarchical government and British rule, employing instead ideas of small government (“What Is…

The institutions normally get short term loans with discount, and these loans are to meet shortages of liquidity. Finally, the central bank enacts expansionary monetary policy by decreasing the reserve requirements. When the Central Bank lowers the reserve requirements, the bank has more cash to lend to its customer at lower interests. Opposed to expansionary monetary policy, we have the contractionary monetary policy. The contractionary…

The banking system is one of the most important things of our industries. A federal reserve bank is a regional bank of the Federal Reserve System. It also counts as the central banking system of the United States. It was created by the congress and it’s purpose was to provide the nation with a safer and more flexible monetary and financial system. It was designed to give an image of the economy and on economic activity in all parts of the nation. The Federal Reserve System is run by a board of…

The Federal Reserve System was created on December 23, 1913, with the Federal Reserve Act signed into law by President Woodrow Wilson. The Fed as it is called was a necessary solution to the lack of a central bank in the U.S. Without a central bank to regulate banking and the economy since 1836 there were a series of financial panics that damaged the banking system, the major event that brought about a sincere need for change was a financial panic in 1907, “The Panic of 1907 was a six-week…

ever rule. The Mongols were ruled by Genghis Khan and Kublai Khan, who is the grandson of Genghis. They ruled somewhere between 1200 and 1360 B.C. The Mongols ruled for a very short period of time, but ruled very effectively. They ruled throughout central Asia and China. The Mongols made a very positive impact on the world. For example, they allowed religious freedom, invented new war techniques, and were a very peaceful empire inside their empire. The Mongols allowed something that wasn’t…

under the leadership of Genghis Khan (McDougal Littel). Genghis Khan ruled the Mongols as a fierce and powerful warlord but he also unified the people and created a prosperous empire. Today, he and his successor’s success in unifying Eastern Europe, Central Asia, and Eastern Asia must be seen as the legacy of interconnectedness and authority…