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Author : Anonim
Publisher : World Bank Publications
Page : 49 pages
File Size : 50,7 Mb
Release : 1991
Category : Demand for money
ISBN : 8210379456XXX
Author : Rup Singh,Saten Kumar
Publisher : Unknown
Page : 22 pages
File Size : 53,7 Mb
Release : 2006
Category : Electronic
ISBN : OCLC:316220527
Author : Patricio Arrau
Publisher : Unknown
Page : 40 pages
File Size : 54,7 Mb
Release : 2006
Category : Electronic
ISBN : OCLC:1291212451
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.
Author : Subrata Ghatak,José R. Sánchez-Fung
Publisher : Red Globe Press
Page : 326 pages
File Size : 52,8 Mb
Release : 2007-08
Category : Business & Economics
ISBN : UCSD:31822034724443
This book is an introduction to monetary economics with a particular reference to issues relevant for developing economies.
Author : Saten Kumar
Publisher : Nova Science Publishers
Page : 0 pages
File Size : 48,7 Mb
Release : 2014
Category : Demand for money
ISBN : 1629480371
This publication presents some empirical analysis on the demand for money. It covers a wide range of papers on econometric techniques and on previous empirical work on money demand. Further, it presents estimates of a common specification of money demand across a range of developing countries. One of the interesting contributions of the book is to give more serious attention to developing economies and to more recent empirical studies than previous studies had done. Studies on the demand for money and its stability are very crucial because it has implications for the monetary policy of a country. The existing literature does not offer guidelines on identifying strong empirical evidence given the multitude of econometric methods that are on offer. There exist contrasting views in relation to whether the central banks should use the rate of interest policy. It appears that most central banks pay less attention to the stability of the money demand functions; therefore this publication attempts to shed light on the usefulness of money demand stability for monetary policy. This publication can be a practical guide for professionals such as academics, central bank (financial) policy analysts, university students and emerging researchers.
Author : Mr.Subramanian S. Sriram
Publisher : International Monetary Fund
Page : 78 pages
File Size : 51,6 Mb
Release : 1999-05-01
Category : Business & Economics
ISBN : 9781451848540
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.
Author : Mr.Mohsin S. Khan,Pierre-Richard Agénor
Publisher : International Monetary Fund
Page : 40 pages
File Size : 55,9 Mb
Release : 1992-01-01
Category : Business & Economics
ISBN : 9781451931303
This paper examines the relative demands for domestic and foreign currency deposits by residents of developing countries. A dynamic currency substitution model that incorporates forward-looking rational expectations is formulated and then estimated for a group of ten developing countries. The results indicate that the foreign rate of interest and the expected rate of depreciation of the parallel market exchange rate are important factors in the choice between holding domestic money or switching to foreign currency deposits held abroad. From an empirical standpoint, the forward-looking framework adopted here also turns out to be superior to the conventional currency-substitution model.
Author : Alexis M. Naho
Publisher : Unknown
Page : 54 pages
File Size : 41,8 Mb
Release : 1985
Category : Demand for money
ISBN : IND:39000004399353
Author : Pierre-Richard Agénor
Publisher : Unknown
Page : 33 pages
File Size : 52,9 Mb
Release : 1999
Category : Electronic
ISBN : OCLC:318251441
Author : Raghbendra Jha
Publisher : Psychology Press
Page : 518 pages
File Size : 55,7 Mb
Release : 2003
Category : Business & Economics
ISBN : 0415262143
This updated edition develops the themes contained in the first edition, taking into account the changes that have occurred in the global economy since the turn of the millennium.
Author : Mr.Guillermo Calvo,Mr.Carlos A. Végh Gramont
Publisher : International Monetary Fund
Page : 32 pages
File Size : 52,8 Mb
Release : 1992-05-01
Category : Business & Economics
ISBN : 9781451845884
This paper reviews the main policy and analytical issues related to currency substitution in developing countries. The paper discusses, first, whether currency substitution should be encouraged or not; second, how the presence of currency substitution affects the choice of nominal anchors in inflation stabilization programs; third, the effects of changes in the rate of growth of the money supply on the real exchange rate; fourth, the interaction between inflationary finance and currency substitution; and, finally, issues related to the empirical verification of the currency substitution hypothesis.
Author : Warren L. Coats,Deena R. Khatkhate
Publisher : Elsevier
Page : 842 pages
File Size : 52,6 Mb
Release : 2014-05-19
Category : Business & Economics
ISBN : 9781483157306
Money and Monetary Policy in Less Developed Countries: A Survey of Issues and Evidence focuses on monetary policy, the financial intermediation process, and the role of money in economic development in less developed countries (LDCs). Topics covered include financial development and economic growth in underdeveloped countries; instruments and techniques used in the implementation of monetary policy: and econometric policy models. This book is comprised of 46 chapters and begins with a discussion on the main lines of thought in the field of money and monetary policy in LDCs, with emphasis on the significant empirical results. The reader is then introduced to the role of money in the development process; production and monetization in the subsistence sector; some aspects of financial policies and central banking in developing countries; and the efficacy of monetary rules for LDCs. The subsequent chapters explore monetary policy instruments such as interest rates, credit controls, and exchange rates; credit policy and the balance of payments in developing countries; and price and output behavior in the Indian economy from 1951 to 1973. A semiannual macroeconometric model of the Philippines for the period 1967-1976 is also described. This monograph will be a valuable resource for economists, economic policymakers, and central bankers as well as students.
Author : Maxwell J. Fry
Publisher : Unknown
Page : 552 pages
File Size : 46,5 Mb
Release : 1988
Category : Banks and banking
ISBN : UCSD:31822003118007
Author : Sheila Page
Publisher : Routledge
Page : 381 pages
File Size : 44,7 Mb
Release : 2013-10-11
Category : Business & Economics
ISBN : 9781136139161
Developing countries now use monetary policy as part of their adjustment programmes but its targets, the tools, and the theory were developed for advanced countries. Low income countries do not have the sophisticated financial sectors that rich ones can assume, and the shocks and size of adjustment which they face may be much greater. Using six country studies, with special analysis of the roles of the external sector and the informal financial sector, this book analyses the interaction among monetary policy, the financial sector, and development.
Author : Paul Cook
Publisher : Unknown
Page : 220 pages
File Size : 49,9 Mb
Release : 1990
Category : Developing countries
ISBN : UCAL:B4373886
