Asymmetric Dynamics of Insurance Premium: The Impact of Monetary Policy Uncertainty on Insurance Premiums in Japan

2019 ◽  
Vol 12 (3) ◽  
pp. 1
Author(s):  
Mehmet Balcilar ◽  
Godwin. O. Olasehinde Williams ◽  
Muhammad Shahbaz
Keyword(s):  
Monetary Policy ◽  
Insurance Premium ◽  
Policy Uncertainty ◽  
Insurance Premiums ◽  
The Impact

scholarly journals Impact of Monetary Policy Uncertainty and Fiscal Policy Uncertainty on CO2 Emissions in the Us

2020 ◽  
Author(s):  
Khalid Anser ◽  
Qasim Syed ◽  
Noreen Khalid ◽  
Jamshid Ali Turi ◽  
Juned Ali Shah
Keyword(s):  
Monetary Policy ◽  
Fiscal Policy ◽  
Environmental Degradation ◽  
Carbon Emissions ◽  
Annual Data ◽  
Policy Uncertainty ◽  
Policy Makers ◽  
Long Run ◽  
Short Run ◽  
The Impact

Abstract Nowadays, environmental degradation is perceived as one of the serious concerns across the globe. One of the prime reasons behind environmental degradation is CO2 emissions. Therefore, researchers are actively putting their efforts to explore the determinants of CO2 emissions to mitigate CO2 emissions. On this basis, the present study contributes to the existing literature by investigating the impact of monetary policy uncertainty (MPU) and fiscal policy uncertainty (FPU) on CO2 emissions (environmental degradation). The current study employs ARDL methodology and uses annual data ranging from 1985 to 2019 for US. The results from the ARDL model report that there is an existence of long-run relationship among the variables. Moreover, MPU escalates the carbon emissions in both short-run and long-run. This implies that increase in MPU is responsible for rise in environmental degradation. On the contrary, FPU plunges the carbon emissions in both short- and long-run. This indicates that increase in FPU decreases the environmental degradation. Findings from the current study propose that policy makers should introduce reforms and launch policies to shrink MPU. Next, this study proposes that rule should be adopted as monetary policy making framework in lieu of discretion. Furthermore, the current study recommends that FPU should not be utilized as a tool to mitigate environmental degradation, because FPU has severe economic impacts.

scholarly journals Exchange Rate Volatility: Does Microeconomic Policy Uncertainty Impact Exchange Rate Volatility?

2021 ◽  
Vol 9 (11) ◽  
pp. 843-849
Author(s):  
Kelly Oniha
Keyword(s):  
United States ◽  
Monetary Policy ◽  
Exchange Rate ◽  
Exchange Rate Volatility ◽  
Macroeconomic Policy ◽  
Policy Uncertainty ◽  
Macroeconomic Variables ◽  
The Exchange Rate ◽  
The Impact

Abstract: This paper analyzes the impact of macroeconomic policy uncertainty on the exchange rate volatility in United States. Using newly developed measure of monetary policy uncertainty, and macroeconomic variables, I find that higher monetary policy uncertainty increases the exchange rate volatility.

scholarly journals Impact of Monetary Policy Uncertainty on R&D Investment Smoothing Behavior of Pharmaceutical Manufacturing Enterprises: Empirical Research Based on a Threshold Regression Model

2021 ◽  
Vol 18 (21) ◽  
pp. 11560
Author(s):  
Jingyuan Yang ◽  
Ling Wang ◽  
Ziyuan Sun ◽  
Fangming Zhu ◽  
Yihui Guo ◽  
...  
Keyword(s):  
Monetary Policy ◽  
Negative Correlation ◽  
Threshold Effect ◽  
Pharmaceutical Manufacturing ◽  
Financing Constraints ◽  
Policy Uncertainty ◽  
Manufacturing Enterprises ◽  
The Impact ◽  
D Investment ◽  
Pharmaceutical Enterprises

R&D investment is the source of technological innovation of pharmaceutical enterprises, but it will be restricted by the funding level, especially in the context of major public health emergencies occurring more frequently, therefore exploring the impact of monetary policy uncertainty on the R&D investment smoothing behavior of pharmaceutical manufacturing enterprises has important theoretical and practical value. Based on the relevant data of Chinese pharmaceutical manufacturing enterprises from 2012 to 2018, this paper studies the impact of monetary policy uncertainty on R&D investment smoothing behavior of pharmaceutical enterprises, and investigates whether there is a threshold effect. First, our results demonstrate that the empirical test results of this article support the hypothesis of R&D investment smoothing behavior of pharmaceutical manufacturing enterprises. Second, there is a negative correlation between monetary policy uncertainty and R&D investment smoothing behavior, and the shorter the period is, the higher the financing constraints of pharmaceutical enterprises are, and the more obvious the negative correlation is. Third, financing constraints have a single threshold effect on the R&D investment smoothing behavior of pharmaceutical manufacturing enterprises, with a threshold of −13.7693. Moreover, this conclusion can better promote the virtuous circle of the real economy of financial and pharmaceutical manufacturing enterprises. It is recommended that pharmaceutical manufacturing enterprises establish and improve the enterprise R&D reserve system, reduce the risk of R&D investment, play the role of R&D smoothing, and realize the sustainable development of enterprise R&D.

scholarly journals Threshold Cointegration Approach for Assessing the Impact of US Economic Policy Uncertainty on Monetary Policy Decision of African Countries

2021 ◽  
Vol 68 (4) ◽  
pp. 509-528
Author(s):  
Prince Mensah Osei ◽  
Anokye Adam
Keyword(s):  
South Africa ◽  
Monetary Policy ◽  
Economic Policy ◽  
Policy Uncertainty ◽  
Threshold Cointegration ◽  
African Countries ◽  
Economic Policy Uncertainty ◽  
Long Run ◽  
The Us ◽  
The Impact

This study uses threshold cointegration technique to ascertain the relationship between United States (US) economic policy uncertainty (EPU) and monetary policy rate (MPR) of each of the four African countries, namely Egypt, Ghana, Namibia and South Africa using monthly data from March 1998 to April 2020. The impact of US EPU on MPR of each country is assessed by examining the linear cointegration, asymmetric cointegration and causal relationships in the frequency domain between the US EPU and MPR of each African country. The findings provide evidence of long-run threshold cointegration and the adjustment mechanisms towards long-run equilibrium are asymmetric in the short run for the MPR models for Ghana, Namibia and South Africa in the M-TAR specification except for Egypt’s MPR model which does not provide evidence of asymmetric adjustment towards the equilibrium position. The bivariate analysis performed in the spectral frequency domain suggests unidirectional causality between US EPU and MPR of each country and that, the US EPU influences the MPR of each country in the long run. The findings provide important guidelines to monetary policy reviewers to take policy stance that would stimulate economic growth amid US policy uncertainties.

Automobile Insurance: Analysis of the Impact of a Premium Change on the Behavior of Insured at the Time of Subscription and Termination

2019 ◽  
Vol 10 (6) ◽  
pp. 517-530
Author(s):  
Zakaria Rouaine ◽  
◽  
Mounir Jerry ◽  
Ahlam Qafas
Keyword(s):  
Insurance Premium ◽  
Insurance Contract ◽  
Insurance Market ◽  
Automobile Insurance ◽  
Insurance Policy ◽  
Contract Term ◽  
Insurance Premiums ◽  
The Impact ◽  
Premium Risk

the subscription of an insurance contract allows an individual to take precautions against the repercussions of hazards and fortuitous events affecting their person or property. In return for this insurance policy, the insured pays a contribution at the beginning of the coverage period, while the insurer may have to provide a service if a certain type of damage occurs during the period in question. While the insurance market acts both on the insured by being able to induce him to terminate his insurance contract, in the case of excessive prices to those of other insurers, and on the insurer by forcing him to a certain extent to make his insurance premiums tolerable. It therefore appears that the insurance premium risk threatens the competitiveness of insurers on the insurance market and the termination of policyholders at the end of the contract term. By choosing to work on automobile insurance market, which is becoming increasingly competitive, as precise premium pricing is a major challenge for each insurer. The aim of this work is to study the sensitivity of insured persons to positives changes in automobile insurance premiums at the end of the contract.

scholarly journals The impact of United States monetary policy uncertainty on the Gulf Cooperation Council stock markets

2019 ◽  
Vol 16 (1) ◽  
pp. 128-143 ◽  
Author(s):  
Abdullah Saeed S Alqahtani ◽  
Hongbing Ouyang ◽  
Shayem Saleh
Keyword(s):  
Monetary Policy ◽  
Stock Markets ◽  
Structural Var ◽  
Policy Uncertainty ◽  
Gcc Countries ◽  
The Us ◽  
Portfolio Managers ◽  
Uncertainty Indices ◽  
The Impact ◽  
Us Monetary Policy

Most of the GCC countries currencies are pegged to the US dollar, which make the economy those countries susceptible to the US monetary policy change. This paper used the non-structural VAR tests to examine the spillovers impact of the two recently developed US monetary policy uncertainty indices (the BBD MPU and the HRS MPU) shocks on GCC stock markets from 2003: M01 to 2017: M07. The result revealed that during the period under review, the two MPU have slight significant impact on some GCC markets. But the HRS MPU has more impact than the BBD MPU. Besides this, unidirectional causality running from HRS MPU to Bahraini and Kuwaiti Stock market was detected within the period. Hence, policymakers should realize the heterogeneity impacts from US MPU to stock markets in GCC countries. The findings also help investors and portfolio managers to better understand the effects of US monetary policy uncertainty on the stock markets.

Dampak Kebijakan Moneter Pada Output Di Negara-Negara ASEAN Tahun 1980-2014

2017 ◽  
Vol 4 (1) ◽  
pp. 58-70
Author(s):  
Nur Widiastuti
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Fixed Effects ◽  
Empirical Studies ◽  
Negative Relationship ◽  
Least Square ◽  
Fixed Effects Model ◽  
State Data ◽  
Ordinary Least Square ◽  
The Impact

The Impact of monetary Policy on Ouput is an ambiguous. The results of previous empirical studies indicate that the impact can be a positive or negative relationship. The purpose of this study is to investigate the impact of monetary policy on Output more detail. The variables to estimatate monetery poicy are used state and board interest rate andrate. This research is conducted by Ordinary Least Square or Instrumental Variabel, method for 5 countries ASEAN. The state data are estimated for the period of 1980 – 2014. Based on the results, it can be concluded that the impact of monetary policy on Output shown are varied.Keyword: Monetary Policy, Output, Panel Data, Fixed Effects Model

Monetary policy and the effect of the transfer of oil prices to inflation

2020 ◽  
pp. 41-50
Author(s):  
Ph. S. Kartaev ◽  
I. D. Medvedev
Keyword(s):  
Monetary Policy ◽  
Inflation Targeting ◽  
Dynamic Models ◽  
Oil Prices ◽  
Oil Price ◽  
Oil Price Shocks ◽  
Negative Effects ◽  
Price Shocks ◽  
Policy Regime ◽  
The Impact

The paper examines the impact of oil price shocks on inflation, as well as the impact of the choice of the monetary policy regime on the strength of this influence. We used dynamic models on panel data for the countries of the world for the period from 2000 to 2017. It is shown that mainly the impact of changes in oil prices on inflation is carried out through the channel of exchange rate. The paper demonstrates the influence of the transition to inflation targeting on the nature of the relationship between oil price shocks and inflation. This effect is asymmetrical: during periods of rising oil prices, inflation targeting reduces the effect of the transfer of oil prices, limiting negative effects of shock. During periods of decline in oil prices, this monetary policy regime, in contrast, contributes to a stronger transfer, helping to reduce inflation.

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