On Transactions And Precautionary Demand For Money PDF Download
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Author | : Boyan Jovanovic |
Publisher | : |
Total Pages | : |
Release | : 1981 |
Genre | : |
ISBN | : |
Download On Transactions and Precautionary Demand For Money Book in PDF, ePub and Kindle
This paper develops a stochastic framework for the analysis of transactions and precautionary demand for money. The analysis is based on the principles of inventory managements and the key feature of the model is its stochastic characteristics which lead to the need for precautionary reserves. The formal solution for optimal money holdings is derived and is shown to depend on the rate of interest, the mean rate of net disbursements, the cost of portfolio adjustment and the variance of the stochastic process governing net disbursements. One solution is obtained by minimizing the present value of financial management. This solution is compared with an alternative that is derived from the more conventional methodology of minimizing the steady-state cost function. The comparison shows that the two approaches may yield solutions that differ significantly from each other. The paper concludes with an application of the model to an empirical examination of countries' holdings of international reserves. The empirical results are shown to be consistent with the predictions of the model
Author | : Vikaschandra S. Chitre |
Publisher | : |
Total Pages | : 208 |
Release | : 1968 |
Genre | : Cash flow |
ISBN | : |
Download Some Dynamic Programming Models of Transactions and Precautionary Demand for Money Book in PDF, ePub and Kindle
Author | : David E. W. Laidler |
Publisher | : HarperCollins Publishers |
Total Pages | : 196 |
Release | : 1985 |
Genre | : Business & Economics |
ISBN | : |
Download The Demand for Money Book in PDF, ePub and Kindle
Author | : Mr.Subramanian S. Sriram |
Publisher | : International Monetary Fund |
Total Pages | : 78 |
Release | : 1999-05-01 |
Genre | : Business & Economics |
ISBN | : 1451848544 |
Download Survey of Literature on Demand for Money Book in PDF, ePub and Kindle
A stable money demand forms the cornerstone in formulating and conducting monetary policy. Consequently, numerous theoretical and empirical studies have been conducted in both industrial and developing countries to evaluate the determinants and the stability of the money demand function. This paper briefly reviews the theoretical work, tracing the contributions of several researchers beginning from the classical economists, and explains relevant empirical issues in modeling and estimating money demand functions. Notably, it summarizes the salient features of a number of recent studies that applied cointegration/error-correction models in the 1990s, and it features a bibliography to aid in research on demand for money.
Author | : Edward Leonard Whalen |
Publisher | : |
Total Pages | : |
Release | : 1964 |
Genre | : Inventories |
ISBN | : |
Download A Statistical Study of the Inventory Approach to the Transactions and Precautionary Demand for Cash Book in PDF, ePub and Kindle
Author | : Kari Heimonen |
Publisher | : |
Total Pages | : 8 |
Release | : 1997 |
Genre | : |
ISBN | : 9789513901394 |
Download Currency Substitution, Transactions and Precautionary Demand for Money Book in PDF, ePub and Kindle
Author | : Wayne Y. Lee |
Publisher | : |
Total Pages | : 11 |
Release | : 1982 |
Genre | : |
ISBN | : |
Download The Impact of Upper and Lower Control Limits on the Transactions and Precautionary Demand for Money Book in PDF, ePub and Kindle
Author | : David E. W. Laidler |
Publisher | : Fire Engineering Books & Videos |
Total Pages | : 196 |
Release | : 1977 |
Genre | : Business & Economics |
ISBN | : |
Download The Demand for Money Book in PDF, ePub and Kindle
Author | : Irina A. Telyukova |
Publisher | : |
Total Pages | : |
Release | : 2011 |
Genre | : |
ISBN | : |
Download Precautionary Demand for Money in a Monetary Business Cycle Model Book in PDF, ePub and Kindle
Author | : Sho-chieh Tsiang |
Publisher | : |
Total Pages | : 0 |
Release | : 1969 |
Genre | : Academic theses |
ISBN | : |
Download The precautionary demand for money Book in PDF, ePub and Kindle