Modeling Buffer Stock Money : An Appraisal.
The buffer stock role of absorbing temporary discrepancies between purchases and sales is assigned to money because money, being the most liquid of all assets, performs the buffer function best. However, as this paper shows, the attempts to model the buffer stock role have led to certain incoherenci...
| Müşterek Yazar: | |
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| Materyal Türü: | Dergi |
| Dil: | English |
| Baskı/Yayın Bilgisi: |
Washington, D.C. :
International Monetary Fund,
1988.
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| Seri Bilgileri: | IMF Working Papers; Working Paper ;
No. 1988/041 |
| Konular: | |
| Online Erişim: | Full text available on IMF |
| Özet: | The buffer stock role of absorbing temporary discrepancies between purchases and sales is assigned to money because money, being the most liquid of all assets, performs the buffer function best. However, as this paper shows, the attempts to model the buffer stock role have led to certain incoherencies. Specifically, this paper shows that the econometric models of buffer stock money published in the literature are incompatible with the theory of buffer stock money and imply two different probability distributions for the same variable, thus resulting in an incoherency. |
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| Diğer Bilgileri: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Fiziksel Özellikler: | 1 online resource (22 pages) |
| Materyal Türü: | Mode of access: Internet |
| ISSN: | 1018-5941 |
| Erişim: | Electronic access restricted to authorized BRAC University faculty, staff and students |