Financial Market Risk and U.S. Money Demand /
This paper examines empirically U.S. broad money demand emphasizing the role of financial market risk. We find that money demand rises with the liquidity risk of stock markets or the credit risk of corporate bond markets. After controlling for the effect of financial market risk, money demand become...
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| Формат: | Журнал |
| Язык: | English |
| Опубликовано: |
Washington, D.C. :
International Monetary Fund,
2007.
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| Серии: | IMF Working Papers; Working Paper ;
No. 2007/089 |
| Online-ссылка: | Full text available on IMF |