Holdings: Money Demand in the United States

Money Demand in the United States:

This paper considers the demand for various monetary aggregates with a view to assessing their potential roles as intermediate variables for monetary policy. Illustrative estimates using a generalized autoregressive distributed lag model are presented. For M1, the results support an "error corr...

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Bibliographic Details
Corporate Author:	International Monetary Fund (Author)
Format:	Electronic eBook
Language:	English
Published:	Washington, D.C International Monetary Fund 1988
Series:	IMF Working Papers
Online Access:	UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext
Summary:	This paper considers the demand for various monetary aggregates with a view to assessing their potential roles as intermediate variables for monetary policy. Illustrative estimates using a generalized autoregressive distributed lag model are presented. For M1, the results support an "error correction" model. However, the demand function for M1 may still be subject to shifts due to the continuing process of financial reform and innovation. The demand function for M1A resulting from the particular empirical strategy used in this paper is not well behaved. The estimated equation for M2 is well behaved and robust, though the use of M2 as an intermediate target variable is questionable due to an inability accurately to control it
Physical Description:	1 Online-Ressource (44 p)
ISBN:	1451953607 9781451953602

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spelling	International Monetary Fund Verfasser aut Money Demand in the United States Washington, D.C International Monetary Fund 1988 1 Online-Ressource (44 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers This paper considers the demand for various monetary aggregates with a view to assessing their potential roles as intermediate variables for monetary policy. Illustrative estimates using a generalized autoregressive distributed lag model are presented. For M1, the results support an "error correction" model. However, the demand function for M1 may still be subject to shifts due to the continuing process of financial reform and innovation. The demand function for M1A resulting from the particular empirical strategy used in this paper is not well behaved. The estimated equation for M2 is well behaved and robust, though the use of M2 as an intermediate target variable is questionable due to an inability accurately to control it Online-Ausg International Monetary Fund Sonstige oth http://elibrary.imf.org/view/IMF001/15314-9781451953602/15314-9781451953602/15314-9781451953602.xml Verlag URL des Erstveröffentlichers Volltext
spellingShingle	Money Demand in the United States
title	Money Demand in the United States
title_auth	Money Demand in the United States
title_exact_search	Money Demand in the United States
title_exact_search_txtP	Money Demand in the United States
title_full	Money Demand in the United States
title_fullStr	Money Demand in the United States
title_full_unstemmed	Money Demand in the United States
title_short	Money Demand in the United States
title_sort	money demand in the united states
url	http://elibrary.imf.org/view/IMF001/15314-9781451953602/15314-9781451953602/15314-9781451953602.xml
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