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reconcile with transactions demand theory. This study re-examines the estimates for income elasticity in money demand based on … cross-regional evidence for Switzerland. Particular attention is given to the influence of regional financial sophistication …
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Using Swiss data from 1983 to 2008, this paper investigates whether growth rates of the different measures of the quantity of money and or excess money can be used to forecast inflation. After a preliminary data analysis, money demand relations are specified, estimated and tested. Then,...
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