A systemic approach to modelling and estimating demand for money(ies)

Simple item page
dc.contributor.authorCalani, Mauricio
dc.contributor.authorFuentes, J. Rodrigo
dc.contributor.authorSchmidt-Hebbel, Klaus
dc.date.accessioned2025-01-20T23:58:17Z
dc.date.available2025-01-20T23:58:17Z
dc.date.issued2013
dc.description.abstractThis article uses a consumer theory-based systemic approach to model the demand for monetary liquid asset holdings in Chile. We implement the suggestions and caveats of aggregation theory for the estimation of a demand system for liquid assets (monies) in static, dynamic and time-varying parameters setups. Our results are robust and theoretically consistent with consumer theory restrictions, as a system derived from a utility maximizing framework and a quasi concave utility function. In our estimations, we find stability of interest rate elasticities, in contrast to previous related literature. We also document evidence that long (short) maturity rates are associated to less (more) liquid assets.
dc.fuente.origenWOS
dc.identifier.doi10.1080/00036846.2011.610745
dc.identifier.issn0003-6846
dc.identifier.urihttps://doi.org/10.1080/00036846.2011.610745
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/95241
dc.identifier.wosidWOS:000303583100001
dc.issue.numero16
dc.language.isoen
dc.pagina.final2162
dc.pagina.inicio2141
dc.revistaApplied economics
dc.rightsacceso restringido
dc.subjectSURE
dc.subjectsemi-nonparametric
dc.subjecttime varying parameters
dc.subjectmoney demand
dc.subjectLAIDS
dc.subjectmonetary policy
dc.subject.ods17 Partnerships for the Goals
dc.subject.ods08 Decent Work and Economic Growth
dc.subject.odspa17 Alianzas para lograr los objetivos
dc.subject.odspa08 Trabajo decente y crecimiento económico
dc.titleA systemic approach to modelling and estimating demand for money(ies)
dc.typeartículo
dc.volumen45
sipa.indexWOS
sipa.trazabilidadWOS;2025-01-12
Files
Collections
Artículos de revistas