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An empirical analysis of the money demand function in India
https://doi.org/10.20561/00037996
https://doi.org/10.20561/000379961ce2c0d0-bbf5-4f47-9f38-94cd151b3ee7
名前 / ファイル | ライセンス | アクション |
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本文 (96.7 kB)
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Item type | アジ研テクニカルレポート / IDE Technical Report(1) | |||||
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公開日 | 2008-10-01 | |||||
タイトル | ||||||
タイトル | An empirical analysis of the money demand function in India | |||||
言語 | ||||||
言語 | eng | |||||
資源タイプ | ||||||
資源タイプ識別子 | http://purl.org/coar/resource_type/c_18gh | |||||
資源タイプ | technical report | |||||
ID登録 | ||||||
ID登録 | 10.20561/00037996 | |||||
ID登録タイプ | JaLC | |||||
著者 |
Inoue, Takeshi
× Inoue, Takeshi× Hamori, Shigeyuki |
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著者別名 | ||||||
井上, 武 | ||||||
著者別名 | ||||||
羽森, 茂之 | ||||||
抄録 | ||||||
内容記述タイプ | Abstract | |||||
内容記述 | This paper empirically analyzes India’s money demand function during the period of 1980 to 2007 using monthly data and the period of 1976 to 2007 using annual data. Cointegration test results indicated that when money supply is represented by M1 and M2, a cointegrating vector is detected among real money balances, interest rates, and output. In contrast, it was found that when money supply is represented by M3, there is no long-run equilibrium relationship in the money demand function. Moreover, when the money demand function was estimated using dynamic OLS, the sign onditions of the coefficients of output and interest rates were found to be consistent with theoretical rationale, and statistical significance was confirmed when money supply was represented by either M1 or M2. Consequently, though India’s central bank presently uses M3 as an indicator of future price movements, it is thought appropriate to focus on M1 or M2, rather than M3, in managing monetary policy. |
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権利 | ||||||
権利情報 | Copyrights 日本貿易振興機構(ジェトロ)アジア経済研究所 / Institute of Developing Economies, Japan External Trade Organization (IDE-JETRO) http://www.ide.go.jp | |||||
収録情報 |
IDE Discussion Paper en : IDE Discussion Paper 巻 166, 発行日 2008-09-01 |
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出版者 | ||||||
出版者 | Institute of Developing Economies (IDE-JETRO) | |||||
著者版フラグ | ||||||
出版タイプ | VoR | |||||
出版タイプResource | http://purl.org/coar/version/c_970fb48d4fbd8a85 | |||||
日本十進分類法 | ||||||
主題Scheme | NDC | |||||
主題 | 337.225 | |||||
JEL分類 | ||||||
主題Scheme | Other | |||||
主題 | JEL:E41 - Demand for Money | |||||
JEL分類 | ||||||
主題Scheme | Other | |||||
主題 | JEL:E51 - Money Supply; Credit | |||||
地域/国名 | ||||||
位置情報(自由記述) | インド | |||||
キーワード(LSH) | ||||||
主題Scheme | Other | |||||
主題 | Cointegration | |||||
キーワード(LSH) | ||||||
主題Scheme | Other | |||||
主題 | DOLS | |||||
キーワード(LSH) | ||||||
主題Scheme | Other | |||||
主題 | Money | |||||
キーワード(LSH) | ||||||
主題Scheme | Other | |||||
主題 | Money demand | |||||
キーワード(LSH) | ||||||
主題Scheme | Other | |||||
主題 | Monetary policy | |||||
キーワード(LSH) | ||||||
主題Scheme | Other | |||||
主題 | India | |||||
キーワード(LSH) | ||||||
主題Scheme | Other | |||||
主題 | 共和分分析 | |||||
キーワード(LSH) | ||||||
主題Scheme | Other | |||||
主題 | 動的最小二乗法 | |||||
キーワード(LSH) | ||||||
主題Scheme | Other | |||||
主題 | 通貨 | |||||
キーワード(LSH) | ||||||
主題Scheme | Other | |||||
主題 | 貨幣需要 | |||||
キーワード(LSH) | ||||||
主題Scheme | Other | |||||
主題 | 金融政策 | |||||
キーワード(LSH) | ||||||
主題Scheme | Other | |||||
主題 | インド | |||||
フォーマット | ||||||
内容記述タイプ | Other | |||||
内容記述 | application/pdf | |||||
DIG_NO | ||||||
内容記述タイプ | Other | |||||
内容記述 | IDP000166_001 |