Financial Innovation And Money Demand
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Financial Innovation And Money Demand
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Author : Patricio Arrau
language : en
Publisher: World Bank Publications
Release Date : 1991
Financial Innovation And Money Demand written by Patricio Arrau and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with categories.
The Demand For Money In Developing Countries
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Author :
language : en
Publisher: World Bank Publications
Release Date : 1991
The Demand For Money In Developing Countries written by and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Demand for money categories.
Financial Innovation And Money Demand
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Author : Ibrahim Elbadawi
language : en
Publisher:
Release Date : 2017
Financial Innovation And Money Demand written by Ibrahim Elbadawi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Empirically, traditional money demand equations are frequently characterized by periods of quot;missing moneyquot; , unstable parameters, and autocorrelated errors. The common practice to solve these problems consists of changing the specification of the regressions once the shifts (which are usually associated to financial innovation) are identified. This paper provides an alternative approach to dealing with the unobservable process of financial innovation. It consists of modelling financial innovation as shocks that have permanent effects on the money demand, analogous to productivity shocks in production functions. This paper describes the theoretical model used and shows the failure of traditional money demand equations using cointegration techiques. It describes a simple GLS-iterative econometric model which allows the authors to recover the path of financial innnovation and obtain sensible estimates of the relevant elasticities. It also shows Monte Carlo simulations to evaluate the behavior of the estimation procedure for particular samples and data generating processes, and to study how robust the procedure to some deviations from the basic assumptions is.
Money Demand And Financial Innovation
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Author : Sunhee Lee
language : en
Publisher:
Release Date : 2004
Money Demand And Financial Innovation written by Sunhee Lee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Credit cards categories.
Financial Innovation And The Speed Of Adjustment Of Money Demand
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Author : Martina Copelman
language : en
Publisher:
Release Date : 1996
Financial Innovation And The Speed Of Adjustment Of Money Demand written by Martina Copelman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Demand for money categories.
The Demand For Money In Developing Countries
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Author : Patricio Arrau
language : en
Publisher:
Release Date : 2006
The Demand For Money In Developing Countries written by Patricio Arrau and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
Traditional specifications of money demand have been commonly plagued by persistent overprediction, implausible parameter estimates, and highly autocorrelated errors. This paper argues that some of those problems stem from the failure to account for the impact of financial innovation. We estimate money demand for ten developing countries employing various proxies for the innovation process and provide an assessment of the relative importance of this variable. We find that financial innovation plays an important role in determining money demand and its fluctuations, and that the importance of this role increases with the rate of inflation.
The Effects Of Financial Innovation On The Microfoundations Of Money Demand
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Author : Iacovos Costas Ioannou
language : en
Publisher:
Release Date : 1992
The Effects Of Financial Innovation On The Microfoundations Of Money Demand written by Iacovos Costas Ioannou and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Demand for money categories.
Financial Innovation Banking And Monetary Aggregates
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Author : A. W. Mullineux
language : en
Publisher: Edward Elgar Publishing
Release Date : 1996-01-01
Financial Innovation Banking And Monetary Aggregates written by A. W. Mullineux and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-01-01 with Business & Economics categories.
Financial Innovation, Banking and Monetary Aggregates reviews the impact of financial innovation on the measurement of money and presents the first collection of country studies appraising the usefulness of Divisia indices in deriving monetary aggregates. Monetary aggregates are traditionally formed by simply summing various monetary components such as cash and balances in savings and cheque accounts. The monetary usefulness, or 'moneyness', of these components differs and can change as a result of innovation in banking, monetary transmission and payment services. To gauge the importance of such distortions and the merits of alternative weighted monetary indices, particularly Divisia indices, this volume brings together authoritative empirical studies of countries including the US, the UK, Germany, France, Sweden, Italy and Japan. The authors conclude by showing how Divisia monetary indices act as a useful supplement to traditional monetary aggregates.
Financial Innovations Money Demand And The Welfare Cost Of Inflation
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Author : Aleksander Berentsen
language : en
Publisher:
Release Date : 2014
Financial Innovations Money Demand And The Welfare Cost Of Inflation written by Aleksander Berentsen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Is Financial Innovation The Key To Obtaining A Steady State Money Demand Function For Developing Countries
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Author :
language : en
Publisher:
Release Date : 1997
Is Financial Innovation The Key To Obtaining A Steady State Money Demand Function For Developing Countries written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with categories.
