IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-349-02199-4_6.html
   My bibliography  Save this book chapter

Currency System and Money Supply

In: Banking and Currency in Hong Kong

Author

Listed:
  • Y. C. Jao

    (University of Hong kong)

Abstract

In recent years there has been a growing interest in money supply both as an analytical concept and a policy variable. It is well known that in comparative static analysis, changes in money stock generate multiplier effects on nominal income, though the size of this may vary considerably according to the behavioural assumptions of the underlying model.1 In the long run money, whether treated as a factor input or consumer good, may produce non-neutral effects on the equilibrium growth path of the economy.2 Quite apart from the contemporary revival of the Quantity Theory, therefore, money supply is of great importance whether viewed from cyclical stabilisation or from secular growth. While the purely theoretical aspects of money supply cannot be treated here, it will evidently be of interest to analyse the determination of money supply in Hong Kong, its special characteristics and the role of the banking system in this process of determination. The present chapter is concerned with these problems.

Suggested Citation

  • Y. C. Jao, 1974. "Currency System and Money Supply," Palgrave Macmillan Books, in: Banking and Currency in Hong Kong, chapter 6, pages 135-167, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-02199-4_6
    DOI: 10.1007/978-1-349-02199-4_6
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below 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.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-349-02199-4_6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.