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Divisia Aggregation and Substitutability Among Monetary Assets

In: Money And The Economy

Author

Listed:
  • Apostolos Serletis

    (University of Calgary, Canada)

  • A. Leslie Robb

Abstract

The following sections are included:IntroductionTheoretical FoundationsDemand System SpecificationStochastic Specification and EstimationElasticitiesDataNear-Bank LiabilitiesAggregationAggregation of ComponentsData Sources and AdjustmentsEmpirical Results InterpretationConclusions

Suggested Citation

  • Apostolos Serletis & A. Leslie Robb, 2006. "Divisia Aggregation and Substitutability Among Monetary Assets," World Scientific Book Chapters, in: Money And The Economy, chapter 8, pages 147-166, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789812773500_0008
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    Citations

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    Cited by:

    1. William A. Barnett & Neepa B. Gaekwad, 2018. "The Demand for Money for EMU: a Flexible Functional Form Approach," Open Economies Review, Springer, vol. 29(2), pages 353-371, April.
    2. Stracca, Livio, 2001. "Does liquidity matter? Properties of a synthetic divisia monetary aggregate in the euro area," Working Paper Series 79, European Central Bank.
    3. Libo Xu & Apostolos Serletis, 2022. "The Demand for Assets: Evidence from the Markov Switching Normalized Quadratic Model," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(4), pages 989-1025, June.
    4. Gauger, Jean, 1998. "Economic Impacts on the Money Supply Process," Journal of Macroeconomics, Elsevier, vol. 20(3), pages 553-577, July.
    5. Jason Allen & Jakub Kastl & Milena Wittwer, 2020. "Maturity Composition and the Demand for Government Debt," Staff Working Papers 20-29, Bank of Canada.
    6. Duca, John V. & VanHoose, David D., 2004. "Recent developments in understanding the demand for money," Journal of Economics and Business, Elsevier, vol. 56(4), pages 247-272.
    7. Ali Jadidzadeh & Apostolos Serletis, 2019. "The Demand for Assets and Optimal Monetary Aggregation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(4), pages 929-952, June.
    8. Xian HUANG & Shilong XIA, 2015. "Currency - Equivalent Vs . Divisia Monetary Aggregates: Theoretical Evaluation And Empirical Evidence From The United States And China," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 60-80, September.
    9. Livio Stracca, 2004. "Does Liquidity Matter? Properties of a Divisia Monetary Aggregate in the Euro Area," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 66(3), pages 309-331, July.

    More about this item

    Keywords

    Monetary Aggregation; Demand for Money; Demand Systems; Flexible Functional Forms; Welfare Cost of Inflation; Money-Income Causality; Nominal Stylized Facts;
    All these keywords.

    JEL classification:

    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • I39 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Other

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