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This publication presents some empirical analysis on the demand for money. It covers a wide range of papers on econometric techniques and on previous empirical work on money demand. Further, it presents estimates of a common specification of money demand across a range of developing countries. One of the interesting contributions of the book is to give more serious attention to developing economies and to more recent empirical studies than previous studies had done. Studies on the demand for money and its stability are very crucial because it has implications for the monetary policy of a count

Demand for money --- Money supply --- Monetary policy --- Money stock --- Quantity of money --- Supply of money --- Money --- Liquidity preference --- E-books

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We develop a theory of money and credit as competing payment instruments, then put it to work in applications. Buyers can use cash or credit, with the former (latter) subject to the inflation tax (transaction costs). Frictions that make the choice of payment method interesting also imply equilibrium price dispersion. We deliver closed-form solutions for money demand. We then show the model can simultaneously account for the price-change facts, cash-credit shares in micro payment data, and money-interest correlations in macro data. We analyze the effects of inflation on welfare, price dispersion and markups. We also describe nonstationary equilibria as self-fulfilling prophecies, which is standard, except here it entails dynamics in the price distribution.

Econometric models. --- Economic forecasting. --- Economics --- Forecasting --- Economic indicators --- Econometrics --- Mathematical models --- Inflation --- Macroeconomics --- Money and Monetary Policy --- Price Level --- Deflation --- Money Supply --- Credit --- Money Multipliers --- Monetary Policy --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Demand for Money --- Monetary economics --- Demand for money --- Currencies --- Sticky prices --- Money --- Prices --- Canada

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The financial crisis in the advanced countries that began in 2007 has led central bankers to adopt unconventional policy measures as policy interest rates neared the zero bound. One suggestion (Blanchard, Dell’Ariccia, and Mauro, 2010) has been to raise inflation targets to provide more room for policy rate easing during crises. This paper addresses a different issue: the relationship between inflation and welfare. The literature is surveyed and a model is developed. A key conclusion is that an increase in inflation targets gives rise to additional welfare costs, even after the extra room to maneuver above the zero lower bound for nominal policy rates is taken into account. Based on parameter values that fit U.S. data, the additional welfare costs of raising inflation targets from 2 to 4 percent are estimated at about 0.3 percent of annual real income. A rise to 10 percent would yield additional welfare costs of about 1 percent of real income. Other parameter values yield welfare costs as high as 7 (respectively 30) percent of real income for raising inflation targets from 2 to 4 (respectively from 2 to 10) percent. The full costs of raising inflation targets are likely to be higher because the model used to generate these estimates does not account for higher inflation-induced volatility.

Business & Economics --- Economic Theory --- Price regulation. --- Welfare economics. --- Government price control --- Government price regulation --- Price control --- Price regulation --- Price stabilization, Governmental --- Prices --- Pricing --- Regulation of prices --- Law and legislation --- Economic policy --- Economics --- Social policy --- Trade regulation --- Anti-inflationary policies --- Inflation (Finance) --- Interest rates --- Welfare economics --- Monetary policy --- Econometric models --- E-books --- Banks and Banking --- Inflation --- Macroeconomics --- Money and Monetary Policy --- Mathematical Methods --- Price Level --- Deflation --- Demand for Money --- Money and Interest Rates: Forecasting and Simulation --- Monetary Policy --- Personal Income, Wealth, and Their Distributions --- Interest Rates: Determination, Term Structure, and Effects --- Monetary economics --- Finance --- Inflation targeting --- Demand for money --- Personal income --- Real interest rates --- Money --- National accounts --- Financial services --- Income --- United States

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In recent decades, Tokyo, London, and New York have been the sites of credit bubbles of historically unprecedented magnitude. Central bankers have enjoyed almost unparalleled power and autonomy. They have cooperated to construct and preserve towering structures of debt, reshaping relations of power and ownership around the world. In Central Banks and Gold, Simon James Bytheway and Mark Metzler explore how this financialized form of globalism took shape a century ago, when Tokyo joined London and New York as a major financial center.As revealed here for the first time, close cooperation between central banks began along an unexpected axis, between London and Tokyo, around the year 1900, with the Bank of England's secret use of large Bank of Japan funds to intervene in the London markets. Central-bank cooperation became multilateral during World War I-the moment when Japan first emerged as a creditor country. In 1919 and 1920, as Japan, Great Britain, and the United States adopted deflation policies, the results of cooperation were realized in the world's first globally coordinated program of monetary policy. It was also in 1920 that Wall Street bankers moved to establish closer ties with Tokyo. Bytheway and Metzler tell the story of how the first age of central-bank power and pride ended in the disaster of the Great Depression, when a rush for gold brought the system crashing down. In all of this, we see also the quiet but surprisingly central place of Japan. We see it again today, in the way that Japan has unwillingly led the world into a new age of post-bubble economics.

E-books --- Banks and banking, Central --- Banks and banking, International --- Money supply --- Gold standard --- History --- Money stock --- Quantity of money --- Supply of money --- Money --- Demand for money --- Monetary policy --- International banking --- Offshore banking (Finance) --- Transnational banking --- Financial institutions, International --- International finance --- Banker's banks --- Banks, Central --- Central banking --- Central banks --- Banks and banking --- History. --- Private finance

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Monetary policy --- Money supply --- 333.130.2 --- 333.402 --- 333.823 --- AA / International- internationaal --- CG / Congo --- DE / Germany - Duitsland - Allemagne --- 336.74 --- Money stock --- Quantity of money --- Supply of money --- Money --- Demand for money --- 336.74 Geld. Geldwezen. Monetaire sector. --- Geld. Geldwezen. Monetaire sector. --- Monetary management --- Economic policy --- Currency boards --- Bankliquiditeit. Verplichte reserves. Solvabiliteit --- Geldschepping en geldvernietiging. Multiplicator van het krediet --- liquiditeitsbeleid.Kascoëfficiënten en liquiditeitscoëfficiënten --- Geld. Geldwezen. Monetaire sector