کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
9553667 1375480 2005 17 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Divisia monetary aggregates and money demand for Malaysia
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Divisia monetary aggregates and money demand for Malaysia
چکیده انگلیسی
Divisia M1 and M2 are constructed for Malaysia. Unlike M1, Divisia M2 shows significant differences in both level and growth rates from its simple sum counterpart. We also compare these Divisia measures to simple sum M1 and M2 in a money demand function. Using error correction models, we examine short-run dynamics between these monetary aggregates and money demand determinants such as inflation, domestic and foreign interest rates, financial wealth, and income. We find that Divisia M2 is the most appropriate monetary aggregate of the four candidates to track money demand in Malaysia and should be used when conducting monetary policy.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Asian Economics - Volume 15, Issue 6, January 2005, Pages 1137-1153
نویسندگان
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