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Measuring Income Elasticity for Swiss Money Demand: What do the cantons say about financial innovation?

Fischer, Andreas - 2005

Recent time-series evidence has re-confirmed the forecasting ability of Swiss broad money. The same money demand studies and others, however, find that the income elasticity is greater than one. Such parameter estimates are difficult to reconcile with transactions demand theory. This study...

Persistent link: https://www.econbiz.de/10011430054

Consumer Cash Usage: A Cross-Country Comparison with Payment Diary Survey Data

Bagnall, John; Bounie, David; Huynh, Kim P.; Kosse, Anneke - 2014

We measure consumers' use of cash by harmonizing payment diary surveys from seven countries. The seven diary surveys were conducted in 2009 (Canada), 2010 (Australia), 2011 (Austria, France, Germany and the Netherlands), and 2012 (the United States). Our paper finds cross-country differences –...

Persistent link: https://www.econbiz.de/10013370109

Short-run money demand

Ball, Laurence - 2002

This paper estimates a long-run demand function for M1, using U.S. data for 1959-1993. The paper interprets deviations from this long-run relation with Goldfeld=s partial adjustment model. A key innovation is the choice of the interest rate in the money demand function. Most previous work uses a...

Persistent link: https://www.econbiz.de/10010293456

Money cycles

Clausen, Andrew; Strub, Carlo - 2010

Classical models of money are typically based on a competitive market without capital or credit. They then impose exogenous timing structures, market participation constraints, or cash-in-advance constraints to make money essential. We present a simple model without credit where money arises...

Persistent link: https://www.econbiz.de/10010316880

Markets Do Not Select for a Liquidity Preference as Behavior Towards Risk

Hens, Thorsten; Schenk-Hoppe, Klaus Reiner - Institut für Schweizerisches Bankwesen <Zürich>; … - 2003

Tobin (1958) has argued that in the face of potential capital losses on bonds it is reasonable to hold cash as a means to transfer wealth over time. It is shown that this assertion cannot be sustained taking into account the evolution of wealth of cash holders versus non cash holders. Cash...

Persistent link: https://www.econbiz.de/10005859324

Rigidez salarial, precios relativos y ajuste estructural: Una interpretación del desempleo en Uruguay

de Brun, Julio; Labadie, Gaston J. - 1998

que Uruguay salió de la crisis cambiaria y financiera. Este estudio presenta una percepción del desempleo en Uruguay. …

Persistent link: https://www.econbiz.de/10010326950

Collective Bargaining Systems in Six Latin American Countries: Degrees of Autonomy and Decentralization (Argentina, Brazil, Chile, Mexico, Peru, and Uruguay)

O'Connell, Lesley - 1999

The transition to a market driven development strategy in Latin America for more than a decade has redefined business strategies and reshaped the state`s traditional role as guarantor of employment, stability, and protection. These changes, plus the move to create more flexible labor markets in...

Persistent link: https://www.econbiz.de/10010326986

How Do Social Security and Income Affect the Living Arrangements of the Elderly? Evidence from Reforms in Mexico and Uruguay

Shinkai, Naoko - 2000

Uruguay, are examined. It is concluded that the improvement of educational attainment was mainly responsible for helping the … elderly poor to live alone in rural areas in Mexico, and not the government system. On the other hand, in Uruguay, for …

Persistent link: https://www.econbiz.de/10010327102

Los efectos del sector público en el financiamiento de la vivienda: El mercado hipotecario de Uruguay

Gandelman, Eduardo; Gandelman, Nestor - 2004

El presente trabajo estudia el mercado hipotecario de viviendas en Uruguay. El principal operador del mercado es el … Banco Hipotecario del Uruguay (BHU), una institución estatal que concentra más de 80% del total de los créditos. Esta … legales) para ejecutar los casos morosos y a la crisis general del sistema financiero de Uruguay. El análisis de los estados …

Persistent link: https://www.econbiz.de/10010327113

Do Democracies Breed Rent-Seeking Behavior?

Calderón, César; Chong, Alberto - 2005

democracies and rent-seeking behavior using time-series and panel data approaches. In this paper we focus on the case of Uruguay …

Persistent link: https://www.econbiz.de/10010327127