Arbeitspapier
The Demand for Monetary Assets in the UK; a Locally Flexible Demand System Analysis
This study provides strong empirical support for modeling the demand for monetary assets within a consumer demand framework. We estimate a linearised locally flexible almost ideal demand system, containing five monetary assets, over the period 1991Q4 to 1998Q4. Estimating the system in differences is a convenient method to account for possible non-stationarity in the data, a major concern for applied macroeconomists. All significant un-compensated own-price elasticities are negative. The compensated own-price elasticities are insignificant and the majority of the income elasticities are significant. Theoretical homogeneity and symmetry propositions are satisfied.
- Language
-
Englisch
- Bibliographic citation
-
Series: Working Paper ; No. 2002:6
- Classification
-
Wirtschaft
Index Numbers and Aggregation; Leading indicators
Consumer Economics: Empirical Analysis
Demand for Money
- Subject
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Money Demand
Almost Ideal Demand System
- Event
-
Geistige Schöpfung
- (who)
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Elger, Thomas
- Event
-
Veröffentlichung
- (who)
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Lund University, School of Economics and Management, Department of Economics
- (where)
-
Lund
- (when)
-
2002
- Handle
- Last update
-
10.03.2025, 11:46 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Elger, Thomas
- Lund University, School of Economics and Management, Department of Economics
Time of origin
- 2002
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