| Description |
1 online resource (34 pages) : illustrations |
| Series |
IMF working paper ; WP/00/188 |
|
IMF working paper ; WP/00/188.
|
| Summary |
The conventional money demand literature has treated the money supply as exogenously given. It is well known, however, that some endogeneity of the money supply arises due to financial innovations and endogenous monetary policy. Dotsey (1984) shows empirically and Ireland (1992) shows theoretically that financial innovations affect money demand. On the other hand, Laidler (1993, p. 187) insightfully suggests that considerable turbulence in the conduct of monetary policy may have affected the stability of money demand since the 1970s. Endogeneity of the money supply renders the conventional money demand function misspecified (e.g., Cogley, 1993) and, indeed, may have been the primary cause of money demand instability during the past two decades as shown in Goldfeld and Sichel(1990) |
| Bibliography |
Includes bibliographical references (pages 28-31) |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
|
English |
|
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
|
Print version record |
| Subject |
Money supply -- Econometric models
|
|
Demand for money -- Econometric models
|
|
Monetary policy -- Econometric models
|
|
Demand for money -- Econometric models
|
|
Monetary policy -- Econometric models
|
|
Money supply -- Econometric models
|
| Form |
Electronic book
|
| Author |
Oh, Seonghwan
|
|
International Monetary Fund.
|
|
IMF Institute.
|
| ISBN |
1282050842 |
|
9781282050846 |
|
1462321593 |
|
9781462321599 |
|
1452757240 |
|
9781452757247 |
|
9786613798299 |
|
6613798290 |
|
1451904916 |
|
9781451904918 |
|
