Essays in monetary policy

Arti Devi
This thesis presents a compilation of four essays under the theme of monetary economics. In the first paper, we investigate the endogenous and exogenous drivers of excess liquidity in Papua New Guinea and Fiji using the Generalized Method of Moments specification. These two economies have been hoarding excessively increasing levels of reserves over the past several years and our analyses finds that commercial banks in Papua New Guinea (PNG) are highly risk averse and keep...
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