IDEAS home Printed from https://ideas.repec.org/a/mcb/jmoncb/v24y1992i2p226-38.html
   My bibliography  Save this article

Structural Change in the Demand for Money

Author

Listed:
  • Choi, Seungmook
  • Sosin, Kim

Abstract

A two-stage nonparametric and parametric approach to identifying structural change in the underlying utility function for monetary assets proves useful in exploring the existence, timing, direction, and extent of structural breaks over the 1969-85 period. Divisia monetary aggregates were constructed after applying the generalized axiom of revealed preference to identify least violation subutility functions. The nonparametric procedure shows utility function inconsistencies in 1975.IV and 1982.III. A translog utility function with structural change represented by time-varying multiplicative parameters was developed and estimated. The results show that the breaks were statistically significant and measure the impacts on monetary asset demand over the period. Copyright 1992 by Ohio State University Press.

Suggested Citation

  • Choi, Seungmook & Sosin, Kim, 1992. "Structural Change in the Demand for Money," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 24(2), pages 226-238, May.
    • Handle: RePEc:mcb:jmoncb:v:24:y:1992:i:2:p:226-38
    as

    Download full text from publisher

    File URL: http://links.jstor.org/sici?sici=0022-2879%28199205%2924%3A2%3C226%3ASCITDF%3E2.0.CO%3B2-%23&origin=bc
    File Function: full text
    Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Goodwin, Barry K., 1992. "Forecasting Cattle Prices in the Presence of Structural Change," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 24(2), pages 11-22, December.
    2. Jensen, Kim & Bevins, Scott, 1991. "The Demand for Butter, Margarine, and Oils: A Nonparametric Test for Evidence of Structural Change," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 23(2), pages 59-64, December.
    3. Alston, Julian M. & Chalfant, James A., 1991. "Can We Take The Con Out Of Meat Demand Studies?," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(1), pages 1-13, July.
    4. Capps, Oral, Jr. & Schmitz, John D., 1991. "A Recognition Of Health And Nutrition Factors In Food Demand Analysis," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(1), pages 1-15, July.
    5. Davis, George C., 2001. "Confirmation And Falsification Of Equilibrium Displacement Models," 2001 Annual meeting, August 5-8, Chicago, IL 20525, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    6. Jin, Hyun Joung & Koo, Won W., 2003. "The Effect Of Food-Safety Related Information On Consumers' Preference: The Case Of Bse Outbreak In Japan," 2003 Annual meeting, July 27-30, Montreal, Canada 22043, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    7. Capps, Oral, Jr. & Park, Jaehong, 2002. "Impacts Of Advertising, Attitudes, Lifestyles, And Health On The Demand For U.S. Pork: A Micro-Level Analysis," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 34(1), pages 1-15, April.
    8. Cherchye, Laurens & Demuynck, Thomas & De Rock, Bram & Hjertstrand, Per, 2015. "Revealed preference tests for weak separability: An integer programming approach," Journal of Econometrics, Elsevier, vol. 186(1), pages 129-141.
    9. Boonsaeng, Tullaya & Wohlgenant, Michael K., 2006. "Testing Separability between Import and Domestic Commodities: Application to U.S. Meat Demand in a Dynamic Model," 2006 Annual Meeting, February 5-8, 2006, Orlando, Florida 35267, Southern Agricultural Economics Association.
    10. Moon, Wanki & Ward, Ronald W., 1999. "Effects Of Health Concerns And Consumer Characteristics On U.S. Meat Consumption," 1999 Annual meeting, August 8-11, Nashville, TN 21682, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    11. Rafael Cortez & Ben Senauer, 1996. "Taste Changes in the Demand for Food by Demographic Groups in the United States: A Nonparametric Empirical Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(2), pages 280-289.
    12. You, Zhikang & Epperson, James E. & Huang, Chung L., 1996. "A Composite System Demand Analysis For Fresh Fruits And Vegetables In The United States," Journal of Food Distribution Research, Food Distribution Research Society, vol. 27(3), pages 1-12, October.
    13. Brenda L. Boetel & Donald J. Liu, 2003. "Evaluating the effect of generic advertising and food health information within a meat demand system," Agribusiness, John Wiley & Sons, Ltd., vol. 19(3), pages 345-354.
    14. LaFrance, Jeffrey T., 1991. "When Is Expenditure "Exogenous" In Separable Demand Models?," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 16(1), pages 1-14, July.
    15. Eales, James S. & Hyde, Jeffrey & Schrader, Lee F., 1998. "A Note On Dealing With Poultry In Demand Analysis," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 23(2), pages 1-10, December.
    16. Richards, Timothy J. & Kagan, Albert & Gao, Xiaoming, 1997. "Factors Influencing Changes In Potato And Potato Substitute Demand," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 26(1), pages 1-15, April.
    17. Everett B. Peterson & Edward Van Eenoo & Anya McGuirk & Paul V. Preckel, 2001. "Perceptions of fat content in meat products," Agribusiness, John Wiley & Sons, Ltd., vol. 17(4), pages 437-453.
    18. Frechette, Darren L. & Jin, Hyun-Joung, 2002. "Distinguishing transitory nonlinear shocks from permanent structural change," Structural Change and Economic Dynamics, Elsevier, vol. 13(2), pages 231-248, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mcb:jmoncb:v:24:y:1992:i:2:p:226-38. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley-Blackwell Digital Licensing or Christopher F. Baum (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.