Measuring money growth when financial markets are changing

Article Abstract:

Two alternative statistical procedures for producing a monetary aggregate are developed, namely, by changing the set of monetary subaggregates included in the monetary aggregate and by changing the weights on the growth rates of the subaggregates. These are used to investigate augmenting money supply (M2) with stock and or bond mutual funds. The alternative aggregates are closely similar to M2 but outperforms it during 1992-1993.

Money supply

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Financial market participation and the apparent instability of money demand

Article Abstract:

The paper suggests that the evolution of financial market participation triggers apparent instability on aggregate money demand. Elasticity estimates obtained from time-series analysts do not accurately reflect the actual response of money holdings to scale variables and opportunity costs.

Money demand

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Big elephants in small ponds: do large traders make financial markets more aggressive?

Article Abstract:

Traditionally, it is believed that large traders make financial markets more aggressive. However, the study shows that market sentiments determine the type of impact large trader's presence makes in the financial markets.

United States, Securities Dealers, Investment Banking and Securities Dealing, Security brokers and dealers, Influence

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