MONETARY UNCERTAINTY AND DEMAND FOR MONEY IN KOREA
Journal Title: Asian Economic and Financial Review - Year 2014, Vol 4, Issue 3
Abstract
Friedman’s volatility hypothesis asserts that increased volatility of money supply can lower the velocity of money or increase the demand for money. Previous studies have tested this hypothesis by using data from a few industrialized countries. In this paper, we estimate the demand for money in Korea after including a measure of volatility of nominal money supply. We provide support for Friedman’s hypothesis in the short run as well as in the long run.
Authors and Affiliations
Mohsen Bahmani-Oskooee| The Center for Research on International Economics, The Department of Economics, University of Wisconsin-Milwaukee, Milwaukee, Sahar Bahmani| Department of Economics, University of Wisconsin-Parkside, Kenosha
Keywords
Related Articles
- EP ID EP2016
- DOI -
- Views 415
- Downloads 24
CAPITAL STRUCTURE DECISIONS AND FIRM PERFORMANCE OF VIETNAMESE SOES
This paper examines relationships between capital structure decisions, firm performance, and Vietnamese state-owned enterprises (SOEs). Capital structure decisions are considered by short- and long-term debts respectivel...
THE EFFECT OF TRADE, SPECIALIZATION AND FINANCIAL INTEGRATION ON BUSINESS CYCLES SYNCHRONIZATION IN SOME MEDITERRANEAN COUNTRIES
The aim of this paper is to study if bilateral trade, similarity of specialization and capital flows between some Mediterranean countries (Egypt, Morocco, Tunisia and Turkey) and their main European partners (Germany, Fr...
DESIGN OF A CGE MODEL TO EVALUATE INVESTMENT IN TRANSPORT INFRASTRUCTURES: AN APPLICATION FOR IRAN
The present paper attempts to design a country scale Computational General Equilibrium (CGE) model to assessment the effects of investment in transport infrastructure. Unlike the previous studies, our model covers impact...
THE LONG RUN AND SHORT RUN IMPACTS OF FOREIGN DIRECT INVESTMENT AND EXPORT ON ECONOMIC GROWTH OF VIETNAM
The determinants of economic growth have always been an important issue in economic research. This paper aims to study the short run and long run impact of foreign direct investment (FDI) and export on economic growth of...
THE IMPACT OF TRANSFERRING MILITARY CONFRONTATION TO ECONOMIC COOPERATION FOR ECONOMIC GROWTH - ASEAN PANEL ANALYSIS
The Association of Southeast Asian Nations (ASEAN) is one of the three major economic regions besides the North American Free Trade Area (NAFTA) and the European Union (EU). In addition to regional economic integration,...