IDEAS home Printed from https://ideas.repec.org/a/pal/imfstp/v36y1989i1p63-101.html
   My bibliography  Save this article

Financial Deregulation, the Demand for Money, and Monetary Policy in Australia

Author

Listed:
  • P. A. V. B. Swamy

    (International Monetary Fund)

  • George S. Tavlas

    (International Monetary Fund)

Abstract

Factors contributing to the deregulation of the Australian financial system are reviewed and the implications of deregulation are discussed for the transmission mechanism of monetary policy, the interest elasticity of money balances, and the stability of money demand. Several models of money demand, using three definitions of money, are estimated by both fixed- and random-coefficient techniques. Empirical results provide evidence that financial deregulation has led to a breakdown in the well-behaved money demand relationships that held in the regulated financial environment.

Suggested Citation

  • P. A. V. B. Swamy & George S. Tavlas, 1989. "Financial Deregulation, the Demand for Money, and Monetary Policy in Australia," IMF Staff Papers, Palgrave Macmillan, vol. 36(1), pages 63-101, March.
    • Handle: RePEc:pal:imfstp:v:36:y:1989:i:1:p:63-101
    as

    Download full text from publisher

    File URL: http://www.jstor.org/stable/3867170?origin=pubexport
    File Function: main text
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

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

    Other versions of this item:

    Citations

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


    Cited by:

    1. Glennon, Dennis & Lane, Julia, 1996. "Financial innovation, new assets, and the behavior of money demand," Journal of Banking & Finance, Elsevier, vol. 20(2), pages 207-225, March.
    2. George S. Tavlas, 2000. "On the Exchange Rate as a Nominal Anchor: The Rise and Fall of the Credibility Hypothesis," The Economic Record, The Economic Society of Australia, vol. 76(233), pages 183-201, June.
    3. Christopher Bajada, 2002. "Estimating The Uses Of Currency In Australia," Economic Papers, The Economic Society of Australia, vol. 21(3), pages 14-30, September.
    4. George S. Tavlas, 1989. "Interpreting Keynes: Reflections on the Leijonhufvud-Yeager Discussion," Cato Journal, Cato Journal, Cato Institute, vol. 9(1), pages 237-252, Spring/Su.
    5. Akhand Hossain, 2012. "Modelling of narrow money demand in Australia: an ARDL cointegration approach, 1970–2009," Empirical Economics, Springer, vol. 42(3), pages 767-790, June.
    6. Lim, Lee Kian, 1995. "Cointegration and an error correction model of money demand for Australia," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 39(3), pages 293-297.

    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:pal:imfstp:v:36:y:1989:i:1:p:63-101. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    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.