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Micro foundations and stability of money demand function: The Case of Pakistan - Couverture souple

Awan, Haroon Sarwar; Hussain, Zakir

 
9783846543757: Micro foundations and stability of money demand function: The Case of Pakistan
Couverture souple
ISBN 10 : 3846543756 ISBN 13 : 9783846543757
Editeur : LAP LAMBERT Academic Publishing, 2011

Synopsis

The study and estimation of demand for money function has a major role in monetary policy formulation. In the back drop of financial deregulation, global financial crisis and structural adjustments, it seems imperative to reinvestigate the money demand function for Pakistan.This study tried to formulate the Divisia aggregates for Pakistan and then used both official (Simple sum) and Divisia aggregates for estimating demand for money function for Pakistan. Moreover, the study tested both groups of money demand functions for stability. The comparison of Simple sum and Divisia based money demand estimates showed that the performance of Divisia based money demand functions was better than their Simple sum counterparts. The results of simple sum and Divisia demand functions showed that interest rate has a very limited role in explaining the demand for money, while the financial innovations were playing a significant role in explaining the money demand pattern.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Présentation de l'éditeur

The study and estimation of demand for money function has a major role in monetary policy formulation. In the back drop of financial deregulation, global financial crisis and structural adjustments, it seems imperative to reinvestigate the money demand function for Pakistan.This study tried to formulate the Divisia aggregates for Pakistan and then used both official (Simple sum) and Divisia aggregates for estimating demand for money function for Pakistan. Moreover, the study tested both groups of money demand functions for stability. The comparison of Simple sum and Divisia based money demand estimates showed that the performance of Divisia based money demand functions was better than their Simple sum counterparts. The results of simple sum and Divisia demand functions showed that interest rate has a very limited role in explaining the demand for money, while the financial innovations were playing a significant role in explaining the money demand pattern.

Biographie de l'auteur

Haroon Sarwar Awan is Assistant Chief Macro economics section Planning commission of Pakistan. He has done his PhD from University of Sargodha, Pakistan under the Supervision of Dr.Zakir Hussain , Vice Chancellor GC University, Faisalabad, Pakistan.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
LAP LAMBERT Academic Publishing
Date d'édition
2011
Langue
anglais
ISBN 10 
3846543756
ISBN 13 
9783846543757
Reliure
Broché
Nombre de pages
124
Coordonnées du fabricant
non disponible
Personne responsable
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