This paper gives a detailed account of the early stages of the process of financial innovation in France and Italy and its consequences on the demand for traditional monetary aggregates. For the two countries, the need to finance large budget deficits emerges as the most important factor that started that process. Nevertheless, its consequences on money demand were different. In the case of France, the introduction of new types of financial assets accounts well for the overprediction of money demand; in the case of Italy, it does not. Copyright 1989 by Blackwell Publishers Ltd and The Victoria University of Manchester
Download Info
To our knowledge, this item is not available for
download. To find whether it is available, there are three
options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page
whether it is in fact available.
3. Perform a search for a similarly titled item that would be
available.
For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).
Related research
Keywords:
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)