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SPLINE ESTIMATION OF THE LIQUIDITY TRAP: A COMMENT.

The article focuses on the spline estimation of the liquidity trap. In a recent note, economists James Barth, Arthur Kraft and John Kraft (BKK) used spline functions to investigate the empirical existence of the liquidity trap. A liquidity trap consists of a horizontal section of the demand for mone...

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Published in:Review of Economics & Statistics Vol. 60; no. 2; pp. 318 - 321
Main Author: McCulloch, J. Huston
Format: Article
Published: MIT Press May78
Subjects:
Spline theory
Liquidity (Economics)
Demand for money
Monetary policy
Macroeconomics
Economics
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