{"product_id":"the-quality-of-eligible-collateral-central-bank-losses-and-monetary-stability-an-empirical-analysis-9783631580769","title":"The Quality of Eligible Collateral, Central Bank Losses and Monetary Stability: An Empirical Analysis","description":"\u003cp\u003e • Author(s): Philipp Lehmbecker\u003cbr\u003e • Publisher: Peter Lang Gmbh, Internationaler Verlag Der W\u003cbr\u003e • Publisher Imprint: Peter Lang Gmbh, Internationaler Verlag Der W\u003cbr\u003e • BISAC: History \u0026amp; Theory - General\u003c\/p\u003e\u003cp\u003eThis book investigates to what extent the quality of eligible collateral is able to explain inflation. Addressing this question, hypotheses derived from the \u003ci\u003eTheory of Property Economics\u003c\/i\u003e by Heinsohn \u0026amp; Steiger are tested. Data are collected using a questionnaire, answered by central banks. An index of the quality of eligible collateral is constructed. Regression analyses are performed based on a sample of 62 countries for the period 1990 to 2003. A negative, robust and statistically significant correlation between inflation and the quality of eligible collateral is found. Central bank independence cannot contribute to the explanation of inflation. The result supports the theory of Heinsohn \u0026amp; Steiger: Securitisation of central bank lending is crucial for price stability.\u003c\/p\u003e","brand":"Peter Lang Gmbh, Internationaler Verlag Der W","offers":[{"title":"Paperback","offer_id":47891832602775,"sku":"9783631580769","price":5112.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9783631580769.webp?v=1781184935","url":"https:\/\/atlanticbooks.com\/products\/the-quality-of-eligible-collateral-central-bank-losses-and-monetary-stability-an-empirical-analysis-9783631580769","provider":"Atlantic Books","version":"1.0","type":"link"}