Should buffer stock theorists be broad- or narrow-minded? Some answers from aggregate U.K. data: 1966-1989
Article Abstract:
The economic postulate that broad money is a better indicator of buffer stock behavior than narrow money is quantitatively assessed by testing a rational expectations buffer stock model using a non-linear Wald test. The study indicated that acceleration of financial reforms in the 1980s were affected by the narrow end of the money aggregate. The Wald restriction indicated that broader money definition captures more accurately the true buffer requirements than narrower money because of lower volatility. Economists should examine broad money aggregates to determine the proportion of the money supply which is buffered.
Publication Name: The Manchester School of Economic and Social Studies
Subject: Social sciences
ISSN: 0025-2034
Year: 1992
User Contributions:
Comment about this article or add new information about this topic:
The analytics of bimetallism
Article Abstract:
The bimetallic monetary system, under which a legal price ratio was fixed between gold and silver and the debtor was permitted to choose which metal to use to discharge the debt, was widely used until the second half of the 19th century. It has been given little attention by modern economists, even though efforts are being made to overcome monetary instability. Research indicates that the bimetallic system performed better than is widely assumed. Indeed, it could have continued operating successfully well into the 20th century.
Publication Name: The Manchester School of Economic and Social Studies
Subject: Social sciences
ISSN: 0025-2034
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Core ERM money demand and effects on inflation
Article Abstract:
The money demand was analyzed to demonstrate the occurrence of a stable money relationship in Germany. Such concept was suggested to have existed among core group of exchange rate mechanism (ERM) countries that did not realign their parities against the deutschmark beginning 1987. Results reveal the predictive power of core ERM money in Germany's inflation, implying the usefulness of ERM money supply in Germany's monetary policy.
Publication Name: The Manchester School of Economic and Social Studies
Subject: Social sciences
ISSN: 0025-2034
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: "You have the body". The Rotunda for the charters of freedom reopens at the National Archives. Those early Americans: Public lands and claims in the American State Papers, 1789-1837
- Abstracts: The age structure of male suicide rates: measurement and analysis of 20 developed countries, 1955-1994. Cognitive abilities and the growth of high-IQ occupations
- Abstracts: Overseas R&D and the strategic evolution of MNEs: evidence from laboratories in the UK. Why are Japanese firms so innovative in engineering technology?
- Abstracts: A suggested test for spatial autocorrelation and/or heteroskedasticity and corresponding Monte Carlo results. Spatial autocorrelation: a new computationally simple test with an application to per capita county police expenditures
- Abstracts: Sexuality education and the schools: issues and answers. Colombia's "national project for sex education." Policy watch: the wait is over