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Money demand in the euro area: new insights from disaggregated data
Setzer, Ralph; Wolff, Guntram B. - Volkswirtschaftliche Fakultät, … - 2009
Conventional money demand specifications in the euro area have become unstable since 2001. We specify a money demand equation in deviations of individual euro area Member States variables from the euro area average and show that the income elasticity as well as the interest rate semi-elasticity...
Persistent link: https://www.econbiz.de/10008528745
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Turkish money demand, revisited: some implications for inflation and currency substitution under structural breaks
Levent, Korap - Volkswirtschaftliche Fakultät, … - 2007
been subject to a weakly exogenous characteristic and conclude that the main factors leading to domestic inflation are …
Persistent link: https://www.econbiz.de/10008550062
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Empirical Evidence on the Long-Run Money Demand Function in the GCC Countries
Hamdi, Helmi; Sbia, Rashid; said, ali - Volkswirtschaftliche Fakultät, … - 2014
The broad aim of this paper is to estimate the money demand function for the case of six Gulf Cooperation Council countries. By applying panel cointegration tests, the empirical results reveal strong evidence of cointegration between the variables of the model for individual countries as well as...
Persistent link: https://www.econbiz.de/10011212951
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Some new evidence on the determinants of money demand in developing countries – A case study of Tunisia
Ben Salha, Ousama; Jaidi, Zied - Volkswirtschaftliche Fakultät, … - 2013
The present paper aims at examining the money demand function in Tunisia during the period 1981-2011. Unlike previous conventional money demand studies, the major components of real income are considered in this paper. Using the ARDL bounds testing approach, results reveal evidence of...
Persistent link: https://www.econbiz.de/10011259415
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The optimal liquidity principle with restricted borrowing
Mierzejewski, Fernando - Volkswirtschaftliche Fakultät, … - 2008
A model is presented to characterise the (optimal) demand for cash balances in deregulated markets. After the model of James Tobin, 1958, net balances are determined in order to maximise the expected return of a certain portfolio combining risk and capital. Unlike the model of Tobin, however,...
Persistent link: https://www.econbiz.de/10005835720
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Liquidity preference as rational behaviour under uncertainty
Mierzejewski, Fernando - Volkswirtschaftliche Fakultät, … - 2006
An important concern of macroeconomic analysis is how interest rates affect the cash balance demanded at a certain level of nominal income. In fact, the interest-rate- elasticity of the liquidity demand determines the effectiveness of monetary policy, which is useless under absolute liquidity...
Persistent link: https://www.econbiz.de/10005835751
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The effect of financial deregulation on money demand in Malaysia
Ahmad, Mahyudin - Volkswirtschaftliche Fakultät, … - 2008
The study seeks to examine the impact of financial deregulation on the money demand in Malaysia and the implication of altered money demand pattern on the Malaysian monetary conduct. It also attempts to investigate the currency substitution effect as result of the financial market development...
Persistent link: https://www.econbiz.de/10011108308
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Inflationary Implication of Gold Price in Vietnam
Siregar, Reza Yamora; Nguyen, Thi Kim Cuc - Volkswirtschaftliche Fakultät, … - 2013
, the movements in the price of gold seem to lead a symmetrical trend in the headline inflation since the outbreak of the …, shifts in the gold price should be monitored as one of the determining factors of inflation. Yet, hardly any study has …-digit inflation rates. …
Persistent link: https://www.econbiz.de/10011108861
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Money Demand in Romania
Dumitru, Ionut - Volkswirtschaftliche Fakultät, … - 2002
models the empirical relationship between broader definition of money, output, interest rates, inflation and exchange rate in … liberalization. The analysis suggests that, in Romania in the long run the inflation is weakly exogenous for the money demand, which … means that inflation is not a monetary phenomenon. …
Persistent link: https://www.econbiz.de/10005786947
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Structural break, stability and demand for money in India
Singh, Prakash; Pandey, Manoj K. - Volkswirtschaftliche Fakultät, … - 2009
This paper attempts to take a meticulous look on stability of money demand in India Using annual data for period 1953-2007 and the Hansen (1992) and Gregory Hansen (1996) co-integration approaches with structural break. Results of the Gregory Hansen (1996) cointegration analysis show the...
Persistent link: https://www.econbiz.de/10004992052