Derivatives markets and real economic activity

Gupta, Ruchi (2004) Derivatives markets and real economic activity. PhD thesis, Victoria University of Technology.

Abstract

Arguably, the single largest innovation in global financial markets in response to financial deregulation and financial innovation over the past two decades has been the emergence and spectacular growth of derivatives markets. The dramatic emergence of derivatives has caught many Central Bankers unaware and only recently has the Bank of International Settlements (BIS) started investigating seriously the impact of derivatives on policy issues. However, what is needed is further insight into and analysis of the impact of derivative growth on macroeconomic policy and the macroeconomy. Such insights should enable policy makers to use derivatives to their best advantage. Therefore, the purpose of the study is to examine how monetary policy transmission changes in the presence of derivative markets.

Item type Thesis (PhD thesis)
URI https://vuir.vu.edu.au/id/eprint/15599
Subjects Historical > Faculty/School/Research Centre/Department > School of Economics and Finance
Current > FOR Classification > 1402 Applied Economics
Current > FOR Classification > 1502 Banking, Finance and Investment
Keywords Derivative securities, Monetary policy, Macroeconomics, Bank of International Settlements, derivative markets, global markets, financial innovation
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