Wealth. Financial Liberalization, and the Demand for Money in Japan.

This paper presents estimates of a demand function for broad money in Japan. The function explains both secular trends in broad money during the 1970s and 1980s and the sharp decline in the income velocity of broad money during 1986-88. The inclusion of wealth and a measure of the return on holding...

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Korporativní autor: International Monetary Fund
Médium: Časopis
Jazyk:English
Vydáno: Washington, D.C. : International Monetary Fund, 1989.
Edice:IMF Working Papers; Working Paper ; No. 1989/085
On-line přístup:Full text available on IMF
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245 1 0 |a Wealth. Financial Liberalization, and the Demand for Money in Japan. 
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300 |a 1 online resource (22 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper presents estimates of a demand function for broad money in Japan. The function explains both secular trends in broad money during the 1970s and 1980s and the sharp decline in the income velocity of broad money during 1986-88. The inclusion of wealth and a measure of the return on holding broad money is essential to the specification of the money-demand function. Developments in these variables, as opposed to a behavioral shift brought about by the rapid pace of financial liberalization, explain the decline in money velocity during 1986-88. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1989/085 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1989/085/001.1989.issue-085-en.xml  |z IMF e-Library