THE SPEED OF ADJUSTMENT OF THE ACTUAL TO THE DESIRED MONEY STOCK: A Comparative Study.
This article examines whether there are significant differences in the speed of adjustment of the actual to the desired money stock among major industrialized countries. Demand for money functions, including a partial adjustment hypothesis, were estimated for the United States, United Kingdom, Canad...
| Publicado en: | European Economic Review Vol. 11; no. 2; pp. 181 - 207 |
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| Autores principales: | , |
| Formato: | Artículo |
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Elsevier B.V.
Aug78
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=11943010&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 11943010 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00142921 EER jtl: European Economic Review issn: 00142921 maglogo: N pubinfo: dt: Aug78 vid: 11 iid: 2 pid: 1004 pub: Elsevier B.V. artinfo: ui: 11943010 10.1016/0014-2921(78)90033-8 ppf: 181 ppct: 26 formats: tig: atl: THE SPEED OF ADJUSTMENT OF THE ACTUAL TO THE DESIRED MONEY STOCK: A Comparative Study. aug: au: Al-Khuri, Samir Nsouli, Saleh M. affil: International Monetary Fund, Washington, DC 20431, USA. su: Money supply Developed countries United Kingdom United States Germany sug: subj: United Kingdom United States Germany Money supply Developed countries ab: This article examines whether there are significant differences in the speed of adjustment of the actual to the desired money stock among major industrialized countries. Demand for money functions, including a partial adjustment hypothesis, were estimated for the United States, United Kingdom, Canada, Germany, France and Japan essentially over the period 1960-76. The functions were tested for stability and found to be stable in most cases. The estimations show that, mainly with the exception of Germany and the United Kingdom for broad money, the speed of adjustment is relatively high. These results tend to support monetarist views. The statistical test for differences in the speed of adjustment revealed that only a few significant differences exist when narrow money is used. When broad money is used, however, the United Kingdom and Germany are shown to have significantly slower speeds of adjustment than almost all the other countries. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1978 holdings: @attributes: islocal: N |
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