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Can foreign currency deposits prop up a collapsing exchange-rate regime?
In: Journal of development economics, Band 58, Heft 2, S. 553-562
ISSN: 0304-3878
Microfoundations for a Stable Demand for Money Function
In: The economic journal: the journal of the Royal Economic Society, Band 107, Heft 443, S. 1202-1212
ISSN: 1468-0297
Modeling the demand for money in the industrial and commercial companies sector in the United Kingdom
In: Journal of policy modeling: JPMOD ; a social science forum of world issues, Band 18, Heft 4, S. 445-467
ISSN: 0161-8938
Modeling the Demand for Money in the Industrial and Commercial Companies Sector in the United Kingdom
In: Journal of policy modeling: JPMOD ; a social science forum of world issues, Band 18, Heft 4, S. 445
ISSN: 0161-8938
A BUFFER STOCK MODEL OF THE DEMAND FOR MONEY BY THE PERSONAL SECTOR
In: Bulletin of economic research, Band 46, Heft 4, S. 315-330
ISSN: 1467-8586
ABSTRACTThis paper examines the forward‐looking rational expectations buffer stock model of Cuthbertson and Taylor (1987) in the context of the personal sector of the UK. The buffer stock model is evaluated for both narrow and broad money definitions in the UK using the encompassing the VAR methodology of Mizon (1984). This suggests that the buffer stock model is a congruent model, and that the broad definition is the most appropriate aggregate with which to model buffering behaviour — in line with previous studies, Mizen (1992). Further analysis of the models, in the light of Hendry (1988), confirms this view.
SHOULD BUFFER STOCK THEORISTS BE BROADOR NARROW‐MINDED? SOME ANSWERS FROM AGGREGATE U.K. DATA: 1966‐1989*
In: The Manchester School, Band 60, Heft 4, S. 403-418
ISSN: 1467-9957
Corporate investment and cash flow sensitivity: What drives the relationship?
In: Working paper 485
Investment and Asset Growth of Asian Firms: Evidence for Financial Resilience in the Recent Financial Crisis
In: Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 32/2012
SSRN
Working paper
Forecasting US bond default ratings allowing for previous and initial state dependence in an ordered probit model
In: International journal of forecasting, Band 28, Heft 1, S. 273-287
ISSN: 0169-2070
What Effect Has Bond Market Development in Emerging Asia Had on the Issuance of Corporate Bonds?
In: Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 18/2010
SSRN
Evidence on the Functional Relationship between Relative Price Variability and Inflation with Implications for Monetary Policy
In: Economica, Band 75, Heft 300, S. 683-699
ISSN: 1468-0335
This paper considers the functional relationship between relative price variability (RPV) and inflation using quarterly personal consumer expenditure data in the US over 1967(I)–2003(I), deriving some implications for monetary policy. Non‐parametric regression techniques are used to explore the shape of the RPV function, and this shape is related to the theory outlined by J. J. Rotemberg. The empirical RPV function yields a plausible 'optimal' value of inflation in the region of five percentage points, which is consistent with this theory and lies within the range of values cited by recent evaluations of 'sand' and 'grease' effects.
Evidence on the External Finance Premium from the US and Emerging Asian Corporate Bond Markets
In: Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 14/2008
SSRN
Corporate Finance Under Low Interest Rates: Evidence from Hong Kong
In: Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper WP No. 11/2005
SSRN