Economic uncertainty, monetary uncertainty and the Korean demand for money

被引：9

作者：

Bahmani-Oskooee, Mohsen ^{[1
]}

Baek, Jungho ^{[2
]}

机构：

[1] Univ Wisconsin, Dept Econ, Ctr Res Int Econ, Milwaukee, WI 53201 USA

[2] Univ Alaska Fairbanks, Dept Econ, Sch Management, Fairbanks, AK USA

来源：

JOURNAL OF ECONOMIC POLICY REFORM | 2017年 / 20卷 / 01期

关键词：

economic uncertainty; monetary uncertainty; money demand; Korea; F40; EMERGING ECONOMIES; VOLATILITY; GROWTH;

D O I：

10.1080/17487870.2016.1213166

中图分类号：

F0 [经济学]; F1 [世界各国经济概况、经济史、经济地理]; C [社会科学总论];

学科分类号：

0201 ; 020105 ; 03 ; 0303 ;

摘要：

Economic uncertainty and monetary uncertainty are said to affect public's holding of money in either direction. In this paper, we consider the Korean demand for money, and after including two GARCH-based measures of output uncertainty and monetary uncertainty, we show that both measures exert significant effects on the demand for money in Korea in the short run. However, only the adverse effects of output uncertainty lasts into the long run. Indeed, including the two uncertainty measures yield a stable demand for money in Korea.

引用

页码：86 / 97

页数：12

共 26 条

[1] DEMAND FOR MONEY IN OPEN ECONOMIES [J].

ARANGO, S ;

NADIRI, MI .

JOURNAL OF MONETARY ECONOMICS, 1981, 7 (01) :69-83

[2]

Bahmani-Oskooee M., 2015, GLOBAL BUS EC REV, V17, P467

[3] Economic and Monetary Uncertainty and the Demand for Money in China [J].

Bahmani-Oskooee, Mohsen ;

Xi, Dan ;

Wang, Yongqing .

CHINESE ECONOMY, 2012, 45 (06) :26-37

[4] The impact of economic and monetary uncertainty on the demand for money in emerging economies [J].

Bahmani-Oskooee, Mohsen ;

Kutan, Ali M. ;

Xi, Dan .

APPLIED ECONOMICS, 2013, 45 (23) :3278-3287

[5] ECONOMIC UNCERTAINTY, MONETARY UNCERTAINTY AND THE DEMAND FOR MONEY IN AUSTRALIA [J].

Bahmani-Oskooee, Mohsen ;

Xi, Dan .

AUSTRALIAN ECONOMIC PAPERS, 2011, 50 (04) :115-128

[6] EXCHANGE-RATE SENSITIVITY OF THE DEMAND FOR MONEY IN DEVELOPING-COUNTRIES [J].

BAHMANIOSKOOEE, M ;

MALIXI, M .

APPLIED ECONOMICS, 1991, 23 (08) :1377-1384

[7]

BAHMANIOSKOOEE M, 1994, INT EC J, V8, P83

[8]

BAHMANIOSKOOEE M, 2002, INT EC J, V16, P85, DOI DOI 10.1080/10168730200080015

[9]

BROWN RL, 1975, J ROY STAT SOC B MET, V37, P149

[10] Money growth volatility and the demand for money in Germany: Friedman's volatility hypothesis revisited [J].

Bruggemann, I ;

Nautz, D .

WELTWIRTSCHAFTLICHES ARCHIV-REVIEW OF WORLD ECONOMICS, 1997, 133 (03) :523-537

← 1 2 3 →