Revisiting The Empirical Evidence On Firms Money Demand

DOWNLOAD

Download Revisiting The Empirical Evidence On Firms Money Demand PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Revisiting The Empirical Evidence On Firms Money Demand book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page

Revisiting The Empirical Evidence On Firms Money Demand

DOWNLOAD
Author : Francesca Lotti
language : en
Publisher:
Release Date : 2006

Revisiting The Empirical Evidence On Firms Money Demand written by Francesca Lotti and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Business enterprises categories.

Survey Of Literature On Demand For Money

DOWNLOAD
Author : Mr.Subramanian S. Sriram
language : en
Publisher: International Monetary Fund
Release Date : 1999-05-01

Survey Of Literature On Demand For Money written by Mr.Subramanian S. Sriram and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-05-01 with Business & Economics categories.

A stable money demand forms the cornerstone in formulating and conducting monetary policy. Consequently, numerous theoretical and empirical studies have been conducted in both industrial and developing countries to evaluate the determinants and the stability of the money demand function. This paper briefly reviews the theoretical work, tracing the contributions of several researchers beginning from the classical economists, and explains relevant empirical issues in modeling and estimating money demand functions. Notably, it summarizes the salient features of a number of recent studies that applied cointegration/error-correction models in the 1990s, and it features a bibliography to aid in research on demand for money.

Demand For Money

DOWNLOAD
Author :
language : en
Publisher: Transaction Publishers
Release Date :

Demand For Money written by and has been published by Transaction Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on with Business & Economics categories.

The income velocity of money-an inverse measure of the demand for money balances-is the ratio of the money value of income to the average money stock that the public (excluding banks) holds in a given period. Why the magnitude of that ratio has changed over time is the subject of Michael D. Bordo and Lars Jonung's classic study, originally published as "The Long-Run Behavior of the Velocity of Circulation." Supported by statistical data, econometric estimation techniques, and meticulous historical analysis, this work describes, in an international setting, how slow-moving economic, social, and political forces interact with the decisions households and firms make about how much money to hold. Annual time series of velocity for several countries from the late nineteenth century to the late twentieth century display a U-shaped pattern. Existing theories can explain each section of the velocity curve-the falling, flat, and rising parts-but the overall pattern is not consistent with any one theory. Here the authors put forth a comprehensive explanation for this behavior over time. Their theory is largely an extension of the approach of Knut Wicksell, the Swedish economist who stressed the role of substitution between monetary assets. This approach, which emphasizes institutional variables, is incorporated into the arguments for the traditional long-run money demand (velocity) function. Four types of empirical evidence strongly support the authors' theory: econometric studies of the long-run velocity function for several countries; a cross section study of approximately eighty countries in the postwar period; a case study of the Swedish monetization process in the fifty years before World War I; and an examination of the time series properties of velocity. "Demand for Money" suggests that institutional factors, as opposed to real income, play a greater role in velocity than previously thought. And these institutional factors have a major impact on monetary policy. This is a book that will prove of great value to economists, monetary strategists, and policymakers. br> Michael D. Bordo is professor of economics and director of the Center for Monetary and Financial History at Rutgers University. He is editor of a series of books, "Studies in Macroeconomic History," and the author of "Essays on the Gold Standard and Related Regimes," and (with Anna J. Schwartz) "A Retrospective on the Classical Gold Standard 1821-1931." Lars Jonung is research adviser at ECFIN, European Commission, Brussels. He was previously professor of economics at the Stockholm School of Economics, and served as chief economic advisor to Prime Minister Carl Bildt from 1992 to 1994. Jonung is the author of "The Political Economy of Price Controls: The Swedish Experience 1970-1985," and editor of "The Stockholm School of Economics Revisited."

The Demand For Money

DOWNLOAD
Author : Milton Friedman
language : en
Publisher:
Release Date : 1959

The Demand For Money written by Milton Friedman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1959 with Income categories.

The Chicago Plan Revisited

DOWNLOAD
Author : Mr.Jaromir Benes
language : en
Publisher: International Monetary Fund
Release Date : 2012-08-01

The Chicago Plan Revisited written by Mr.Jaromir Benes and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-01 with Business & Economics categories.

At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.

Revisiting Poverty And Welfare Dominance

DOWNLOAD
Author : Gian Maria Tomat
language : en
Publisher:
Release Date : 2007

Revisiting Poverty And Welfare Dominance written by Gian Maria Tomat and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Poverty categories.

The Ecb S Monetary Analysis Revisited

DOWNLOAD
Author : Helge Berger
language : en
Publisher: International Monetary Fund
Release Date : 2008-07

The Ecb S Monetary Analysis Revisited written by Helge Berger and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-07 with Business & Economics categories.

Monetary aggregates continue to play an important role in the ECB's policy strategy. This paper revisits the case for money, surveying the ongoing theoretical and empirical debate. The key conclusion is that an exclusive focus on non-monetary factors alone may leave the ECB with an incomplete picture of the economy. However, treating monetary factors as a separate matter is a second-best solution. Instead, a general-equilibrium inspired analytical framework that merges the economic and monetary "pillars" of the ECB's policy strategy appears the most promising way forward. The role played by monetary aggregates in such unified framework may be rather limited. However, an integrated framework would facilitate the presentation of policy decisions by providing a clearer narrative of the relative role of money in the interaction with other economic and financial sector variables, including asset prices, and their impact on consumer prices.

Why Demand Uncertainty Curbs Investment

DOWNLOAD
Author : Maria Elena Bontempi
language : en
Publisher:
Release Date : 2007

Why Demand Uncertainty Curbs Investment written by Maria Elena Bontempi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Consumption (Economics) categories.

The Demand For Money

DOWNLOAD
Author : Apostolos Serletis
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-11-21

The Demand For Money written by Apostolos Serletis and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11-21 with Business & Economics categories.

Almost half a century has elapsed since the demand for money began to attract widespread attention from economists and econometricians, and it has been a topic of ongoing controversy and research ever since. Interest in the topic stemmed from three principal sources. First of all, there was the matter of the internal dynamics of macroeco nomics, to which Harry Johnson drew attention in his 1971 Ely Lecture on "The Keynesian Revolution and the Monetarist Counter-Revolution," American Economic Review 61 (May 1971). The main lesson about money that had been drawn from the so-called "Keynesian Revolution" was - rightly or wrongly - that it didn't matter all that much. The inherited wisdom that undergraduates absorbed in the 1950s was that macroeconomics was above all about the determination of income and employment, that the critical factors here were saving and investment decisions, and that monetary factors, to the extent that they mattered at all, only had an influence on these all important variables through a rather narrow range of market interest rates. Conventional wisdom never goes unchallenged in economics, except where its creators manage to control access to graduate schools and the journals, and it is with no cynical intent that I confirm Johnson's suggestion that those of us who embarked on academic careers in the '60s found in this wisdom a ready-made target.

The Evolution Of Central Banking And Monetary Policy In The Asia Pacific

DOWNLOAD
Author : Akhand Akhtar Hossain
language : en
Publisher: Edward Elgar Publishing
Release Date : 2015-08-28

The Evolution Of Central Banking And Monetary Policy In The Asia Pacific written by Akhand Akhtar Hossain 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 2015-08-28 with Business & Economics categories.

This book of case studies is a significant contribution to monetary macroeconomics in which country-specific experience and issues in inflation and monetary policy are reviewed and analysed in an historical context. In doing so, the key ideas and views