Money demand stability myth or reality (Record no. 49617)

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005 - DATE AND TIME OF LATEST TRANSACTION
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008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
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082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER
Classification number 332.4 ARI
100 ## - MAIN ENTRY--PERSONAL NAME
Personal name Arif, R.R.
245 #0 - TITLE STATEMENT
Title Money demand stability myth or reality
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Place of publication, distribution, etc. Mumbai
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Name of publisher, distributor, etc. Deptt. of Economic Analysis and Policy
260 ## - PUBLICATION, DISTRIBUTION, ETC.
Date of publication, distribution, etc. 1996
300 ## - PHYSICAL DESCRIPTION
Extent 80 p.
520 ## - SUMMARY, ETC.
Summary, etc. A developing economy is often vulnerable to fluctuations in growth and inflation, both significant factors related to the demand for money. Changes in money supply, whether policy induced or not, also have a bearing on this relationship. The current transition towards deregulation and market-related rates has raised doubts about the traditional wisdom regarding the role of money demand in the formulation of monetary policy. This study examines this influential, yet highly controversial subject in monetary economics namely, the behaviour of aggregate money demand. The crucial question is whether economic agents adjust to exogenous shocks and whether such shocks have a bearing on the stability of the money demand relationship. Furthermore, it is necessary to examine whether money demand in India is stable enough to be useful for ex-ante prediction and control.<br/><br/>There has been considerable research on this topic in India. But there is not much empirical evidence based on the newer techniques such as cointegration. Thus a comparative evaluation of the various tools of applied economic research as applied to money demand analysis remained a long felt need. A major objective of this study is to make a contribution towards this end.<br/><br/>Based upon alternate theories and models, we investigate money demand behaviour in India from the 'sixties to the 'nineties. In addition to the partial adjustment ecification commonly adopted in conventional applied research, we employ the buffer stock approach and the technique of error correction. Having obtained different empirical models, we evaluate them, focussing on stability and predictability issues that have important implications for monetary management.
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name entry element Econometrics
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Koha item type Books
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  Not Missing Not Damaged   Gandhi Smriti Library Gandhi Smriti Library   2020-02-04   332.4 ARI 59929 2020-02-04 2020-02-04 Books

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