| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5038 |
| DP5038 Intermediaries as Bundlers, Traders and Quality Assessors: The Case of UK Tour Operators | |
| Panos Pashardes; Sofronis Clerides; Paris Nearchou | |
| 发表日期 | 2005-05-23 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | Recent time-series evidence has reconfirmed the forecasting ability of Swiss broad money. The same money demand studies and others, however, find that the income elasticity is greater than one. Such parameter estimates are difficult to reconcile with transactions demand theory. This study re-examines the estimates for income elasticity in money demand based on cross-regional evidence for Switzerland. Particular attention is given to the influence of regional financial sophistication. The cross-cantonal results find that the income elasticity lies between 0.4 and 0.6. This discrepancy between the two empirical methodologies has important consequences for the conduct of Swiss monetary policy. |
| 主题 | International Macroeconomics |
| 关键词 | Money demand Cross-regional estimates Regional financial sophistication |
| URL | https://cepr.org/publications/dp5038 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533935 |
| 推荐引用方式 GB/T 7714 | Panos Pashardes,Sofronis Clerides,Paris Nearchou. DP5038 Intermediaries as Bundlers, Traders and Quality Assessors: The Case of UK Tour Operators. 2005. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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