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The Empirical Verification of Money Demand in Case of India : Post-Reform Era

Adil, Masudul Hasan - 2018

In the evident of globalised world economy and changing economic structure, the traditional policies are required to be close examination. This is true particularly in case of developing countries, like India where new economic policies have had been changing visibly since 1990s. Therefore, in...

Persistent link: https://www.econbiz.de/10012917642

Between Cash, Deposit and Bitcoin : Would We Like a Central Bank Digital Currency? Money Demand and Experimental Economics

Borgonovo, Emanuele - 2018

The aim of this paper is to analyse the demand of a central bank digital currency (CBDC). Using a financial portfolio approach and assuming that individual preferences and policy votes are consistent, we identify the drivers of the political consensus in favour or against such as new currency....

Persistent link: https://www.econbiz.de/10012921960

Divisia Monetary Aggregates for Russia : Money Demand, GDP Nowcasting, and the Price Puzzle

El-Shagi, Makram; Tochkov, Kiril - 2021

The lack of developed financial markets and well-functioning transmission channels assigns monetary aggregates in emerging economies the potential role of nominal anchor, intermediate target, or informational variable for monetary policy. The effectiveness of this approach relies crucially on...

Persistent link: https://www.econbiz.de/10013219425

Scarce, abundant, or ample? : a time-varying model of the reserve demand curve

Afonso, Gara; Giannone, Domenico; La Spada, Gabriele; … - 2022

Does the federal funds rate respond to shocks when aggregate reserves are in the trillions of dollars? Has banks' demand for reserves moved over time? We provide a structural time-varying estimate of the slope of the reserve demand curve over 2010-21. We estimate a time-varying vector...

Persistent link: https://www.econbiz.de/10013257201

Cash Demand at Negative Policy Rates

Rainone, Edoardo - 2021

Following the implementation of negative policy rates, interest rates on bank deposits reached their historic lows, with values close or equal to zero. This paper investigates the implications of such a new environment for the demand of cash. We find evidence of a discontinuity in the demand of...

Persistent link: https://www.econbiz.de/10013214404

The Determinants and Stability of Money Demand in the Republic of Macedonia

Kjosevski, Jordan - 2013

Bank should carefully monitor the exchange rate and inflation as two most important indicators of monetary policy, because …

Persistent link: https://www.econbiz.de/10013079785

The demand for Swiss banknotes: some new evidence

Assenmacher-Wesche, Katrin; Seitz, Franz; Tenhofen, Jörn - In: Swiss journal of economics and statistics 155 (2019) 14, pp. 1-22

Knowing the part of currency in circulation that is used for transactions is important information for a central bank. For several countries, the share of banknotes that is hoarded or circulates abroad is sizeable, which may be particularly relevant for large-denomination banknotes. We analyze...

Persistent link: https://www.econbiz.de/10012137979

Stability of Money Demand in Switzerland : A Comparison of the M2 and M3 Cases

Peytrignet, Michel; Stahel, Christof W. - 1998

Long-run parameters of money demand functions for Switzerland's M2 and M3 aggregate are estimated and their stability investigated. For both aggregates a single stable cointegrating vector is found. Around these long-run relationships a single-equation model for (1-L)m2 and a single-equation...

Persistent link: https://www.econbiz.de/10014215609

A Money Demand System for German M3

Luetkepohl, Helmut; Wolters, Jürgen - 1998

model for M3, GNP, an inflation rate and an interest rate spread variable to represent opportunity costs of holding money …. Furthermore, import price inflation is added as an exogenous variable. The model is used to analyze the relation between money … growth and inflation by means of an impulse response analysis …

Persistent link: https://www.econbiz.de/10014215614

Empirical Modeling of Money Demand

Ericsson, Neil R. - 1998

This paper examines several central issues in the empirical modeling of money demand. These issues include economic theory, data measurement, parameter constancy, the opportunity cost of holding money, cointegration, model specification, exogeneity, and inferences for policy. Review of these...

Persistent link: https://www.econbiz.de/10014215624