Money Demand Dynamics: Some New Evidence
نویسنده
چکیده
‘ONSIDERABLE empirical work and a significant, but considerably smaller, volume of theoretical effort has been devoted to the question of the short-run, dynamic adjustment of the demand for money. Much of the impetus for the empirical work came from the classic study by Chow (1966), who employed the partial adjustment model to characterize the adjustment of actual to desired real money balances.
منابع مشابه
A New Nonlinear Specification of Structural Breaks for Money Demand in Iran
In a structural time series regression model, binary variables have been used to quantify qualitative or categorical quantitative events such as politic and economic structural breaks, regions, age groups and etc. The use of the binary dummy variables is not reasonable because the effect of an event decreases (increases) gradually over time not at once. The simple and basic idea in this paper i...
متن کاملA Critical Discourse about Demand for Money Studies in the Iranian Economy (1989- 2000)
This paper provides a critical review of the demand for money estimation. In doing so, first we explain the main effective factors on the demand for money on the light of monetarists, which those are: transaction demand for money and opportunity cost of holding money. Then I have done a short report about the existing studies on the demand for money in the Iranian economy and have a special att...
متن کاملتحلیل و ارزیابی الگوی پولی سیدراسکی در اقتصاد ایران
The specification of money demand function is one of the most important and disputable subjects in economics. With regard to its importance, many of economists have represented several theorizes about money demand. The Sidrauski monetary model is an interesting theory of money demand. Sidrauski extended Ramsey model with regard real balance of money which in the Sidrauski model the utili...
متن کاملA New Inventory Model for Deteriorating Items with Price-dependent Demand, Time-value of money, and Shortages
This paper presents a discounted cash-flow approach to an inventory model for deteriorating items with the 
two-parameter Weibull distribution. According to our proposed model, two shortages are considered: back-orders and lost-sales, 
in which the back-order rate is a varying function of the time when the shortage happens. In general, the demand rate is a linear function of the selling p...
متن کاملMoney growth volatility and the demand for money in Germany: Friedman's volatility hypothesis revisited
Recently the Bundesbank claimed that monetary targeting has become considerably more di cult by the increased volatility of short term money growth The present paper investigates the impact of German money growth volatility on income velocity and money demand in view of Friedman s money growth volatility hypothesis Granger causality tests provide some evidence for a velocity volatility linkage ...
متن کامل