Artikel
Long-run money demand in Switzerland
This paper studies long-run demand functions for Swiss M1 and M3, using annual data spanning the period 1907-2016. While the demand functions display plausible price and income elasticities, tests for structural breaks at unknown points in time detect instability in 1929 for real M1 and 1943 for real M3. This instability appears to arise from the way in which the opportunity cost is modelled. While using a single interest rate may be appropriate for M1, for M3 it would likely be helpful to take into consideration both the own return and the return on non-monetary assets.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Aussenwirtschaft ; ISSN: 0004-8216 ; Volume: 68 ; Year: 2017 ; Issue: 1 ; Pages: 47-62 ; St.Gallen: Universität St.Gallen, Schweizerisches Institut für Aussenwirtschaft und Angewandte Wirtschaftsforschung (SIAW-HSG)
- Klassifikation
-
Wirtschaft
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Gerlach, Stefan
- Ereignis
-
Veröffentlichung
- (wer)
-
Universität St.Gallen, Schweizerisches Institut für Aussenwirtschaft und Angewandte Wirtschaftsforschung (SIAW-HSG)
- (wo)
-
St.Gallen
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Gerlach, Stefan
- Universität St.Gallen, Schweizerisches Institut für Aussenwirtschaft und Angewandte Wirtschaftsforschung (SIAW-HSG)
Entstanden
- 2017
Ähnliche Objekte (12)
Long-run money demand
Long-run money demand redux
Long-run Money Demand in OECD Countries – Cross-Member Cointegration
Long-run Money Demand in OECD Countries – Cross-Member Cointegration
Financial liberalization and long-run stability of money demand in Nigeria
Short-run money demand
A component-based analysis of the Danish long-run money demand relation
Long-run Investment under Uncertain Demand
The long-run demand for M2 reconsidered
Long-run money demand in the new EU Member States with exchange rate effects
Anomalous empirical evidence on money long-run super-neutrality and the vertical long-run Phillips curve
Anomalous empirical evidence on money long-run super-neutrality and the vertical long-run Phillips curve
Long-run money demand
Long-run money demand redux
Long-run Money Demand in OECD Countries – Cross-Member Cointegration
Long-run Money Demand in OECD Countries – Cross-Member Cointegration
Financial liberalization and long-run stability of money demand in Nigeria
Short-run money demand
A component-based analysis of the Danish long-run money demand relation
Long-run Investment under Uncertain Demand
The long-run demand for M2 reconsidered
Long-run money demand in the new EU Member States with exchange rate effects
Anomalous empirical evidence on money long-run super-neutrality and the vertical long-run Phillips curve
Anomalous empirical evidence on money long-run super-neutrality and the vertical long-run Phillips curve
Long-run money demand
Long-run money demand redux
Long-run Money Demand in OECD Countries – Cross-Member Cointegration
Long-run Money Demand in OECD Countries – Cross-Member Cointegration
Financial liberalization and long-run stability of money demand in Nigeria
Short-run money demand
A component-based analysis of the Danish long-run money demand relation
Long-run Investment under Uncertain Demand
The long-run demand for M2 reconsidered
Long-run money demand in the new EU Member States with exchange rate effects
Anomalous empirical evidence on money long-run super-neutrality and the vertical long-run Phillips curve