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This paper empirically analyses the stability of the money demand function in Turkey for the period 1950-2002. As part … of the IMF-sponsored stabilisation programme, Turkey has been pursuing base money targets and preparing to move to direct … demand function and it could be used as an intermediate target of monetary policy in Turkey …
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The paper presents the welfare cost of inflation in a banking time economy that models exchange credit through a bank production approach. The estimate of welfare cost uses fundamental parameters of utility and production technologies. It is compared to a cash-only economy, and a Lucas (2000)...
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Money demand and its stability have a great impact on the economy of a country. Because China's financial and monetary system has been in reform, there are many uncertainties in money demand. Especially, China's money demand has its own particularity. This paper studies the determinants of...
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