Money and productive efficiency -: Evidence from a high-inflation country

被引：2

作者：

Basci, Erdem ^{[1
]}

Mahmud, Syed F.

Yucel, Eray M.

机构：

[1] Cent Bank Turkey, Res & Monetary Policy Dept, Ankara, Turkey

[2] Bilkent Univ, Dept Econ, Ankara, Turkey

来源：

EMERGING MARKETS FINANCE AND TRADE | 2007年 / 43卷 / 01期

关键词：

high inflation; inventories; manufacturing; money demand by firms; stochastic frontier estimation; Turkey; RELATIVE PRICE VARIABILITY; REAL CASH BALANCES; UNITED-STATES; FRONTIER; LIQUIDITY; ECONOMY; MODEL;

D O I：

10.2753/REE1540-496X430103

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper examines how money balances held by manufacturing firms affect their efficiency in generating sales revenue in a high-inflation economy. The analysis employs data from Turkish firms to estimate a stochastic frontier model, finding a strong positive association between the firms' money holdings and their efficiency. However the role of money balances seems to diminish as firms hold higher raw material inventories.

引用

页码：64 / 73

页数：10

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