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

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