Naslov
Changes of money supply in European area caused by global trading with financial derivatives

Autori
Popek Biškupec, Petra ; Lešić, Zdravko

Izvornik
International Journal of Econmonics and Statistics (2309-0685) 1 (2013), 3; 122-128

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
derivative instruments, speculative trading, monetary policy

Sažetak
The intensive use of derivative instruments and massive trading with these derivatives, has affected the monetary policy and the money supply provided by central banks. The large usage of various derivatives has led to an increase in trading with derivatives on financial markets. This means that financial derivatives are no more used only to protect against financial risks, but are used to gain profit from earning by trading on financial markets. The aim of this paper is to analyze the impact of trading with financial derivatives on money supply provided by central banks. The econometric model shows the impact of each group of financial derivatives and the amount of changes of monetary aggregates. The results of analysis indicate that the huge volume of trading with financial derivatives has an effect on money supply and in that way disturbs the aims of monetary policy of central banks.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA