أعرض تسجيلة المادة بشكل مبسط

dc.creator Gillman, Max
dc.creator Otto, Glenn
dc.date 2003
dc.date.accessioned 2013-10-16T07:03:43Z
dc.date.available 2013-10-16T07:03:43Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/19226
dc.identifier ppn:374766045
dc.identifier RePEc:zbw:hwwadp:26221
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19226
dc.description The paper presents a theory of the demand for money that combines a special case of the shopping time exchange economy with the cash-in-advance framework. The model predicts that both higher inflation and financial innovation - that reduces the cost of credit - induce agents to substitute away from money towards exchange credit. This results in an interest elasticity of money that rises with the inflation rate rather than the constant elasticity found in standard shopping time specifications. A number of the key predictions of the banking time theory are tested using quarterly data for the US and Australia. We find cointegration empirical support for the model, with robustness checks and a comparison to a standard specification.
dc.language eng
dc.publisher
dc.relation HWWA Discussion Paper 254
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject O42
dc.subject E41
dc.subject E13
dc.subject E51
dc.subject ddc:330
dc.subject money demand
dc.subject cointegration
dc.subject financial technology
dc.subject banking time
dc.subject Geldnachfrage
dc.subject Cash-in-Advance-Modell
dc.subject Schätzung
dc.subject Vereinigte Staaten
dc.subject Australien
dc.subject shopping time model
dc.title Money demand in a banking time economy
dc.type doc-type:workingPaper


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أعرض تسجيلة المادة بشكل مبسط