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Canaries and Vultures: A Quantitative History of Monetary Mismanagement in Brazil

Albuquerque, Pedro H.; Gouvea, Solange - EconWPA - 2005

During the last two decades of the twentieth century, Brazil went through a sequence of failed stabilization plans that tried to cope with an enduring hyperinflation. This paper uses a money demand model to evaluate monetary policies during those episodes. The consistency between the money...

Persistent link: https://www.econbiz.de/10005124863

Monetary Aggregation

Barnett, William - EconWPA - 2005

on monetary aggregation and index number theory, from its origins in 1980 to the current time. At the end of this … multicountry areas, such as the euro area. Research on monetary aggregation theory has been especially successful in solving the …

Persistent link: https://www.econbiz.de/10005126328

Money Demand in theEuroArea: Do National Differences Matter?

Dedola, Luca; Gaiotti, Eugenio; Silipo, Luca - EconWPA - 2004

This paper assesses the relevance of national information in estimating the demand for euro-area M3 from three perspectives. First, we check whether national money demands can legitimately be aggregated. Second, we compare time-series and panel methods to estimate aggregate long-run...

Persistent link: https://www.econbiz.de/10005412612

EXPECTATIONS AND ADJUSTMENTS IN THE MONETARY SECTOR

Feige, Edgar L. - EconWPA - 2005

This paper examines the problem of appropriately specifying and estimating the money demand function in the presence of adaptive expectations and partial adjustment mechanisms. The paper demonstrates the difficulty of interpreting distributed lag reduced form representations of the monetary...

Persistent link: https://www.econbiz.de/10005076678

ALTERNATIVE TEMPORAL CROSS-SECTION SPECIFICATIONS OF THE DEMAND FOR DEMAND DEPOSITS

Feige, Edgar L. - EconWPA - 2005

This paper examines a broad set of alternative temporal cross- section specifications of the demand for money as a means of estimating the degree of substitution between demand deposits and other liquid assets. Despite differences in data bases, model specifications and estimation techniques,...

Persistent link: https://www.econbiz.de/10005076813

On Stability of the Demand for Money in a Developing OECD

HALICIOGLU, Ferda; UGUR, Mehmet - EconWPA - 2005

This paper empirically analyses the stability of the narrow money demand function (M1) in Turkey for the period 1950-2002. As part of the IMF-sponsored stabilisation programme, Turkey has been pursuing base money targets. To ascertain whether this policy framework satisfies the necessary...

Persistent link: https://www.econbiz.de/10005561131

Money Demand in EU Countries: A Survey

Browne, Frank; Fagan, Gabriel; Henry, Jerome - EconWPA - 2005

fairly well in EU countries. Estimated parameters have the signs, if not always the magnitudes, predicted by economic theory …

Persistent link: https://www.econbiz.de/10005561222

Government Financing and Interest Rates in a Three Assets Sidrauski-based Model

Pozo, Eduardo - EconWPA - 2000

In this paper we formulate a Sidrauski-based model with three assets in which we introduce public bonds into the utility function of agents, with the purpose of analyzing some related questions with regards to the consequences of the financial activity of the government and the determination of...

Persistent link: https://www.econbiz.de/10005561254

The Theory of Monetary Aggregation (book front matter)

Barnett, William; Serletis, Apostolos; Diewert, W. Erwin - EconWPA - 2005

This is the front matter from the book, William A. Barnett and Apostolos Serletis (eds.), The Theory of Monetary … unified collection and discussion of W. A. Barnett's most important published papers on financial aggregation theory and …

Persistent link: https://www.econbiz.de/10005125027

Currency preferences and the Australian dollar

Kingston, Geoffrey; Melecky, Martin - EconWPA - 2005

We investigate the theory and empirics of currency substitution and currency complementarity. Analytical tractability … Australian dollar’s substitution for the mark and complementarity with the yen, consistent with our theory that international … variables will in general affect the demand for domestic money. Our theory also predicts third-currency effects, and the data …

Persistent link: https://www.econbiz.de/10005125493