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The Demand for Money: Recent Japanese Case

Author

Listed:
  • Yutaka Kurihara

    (Department of Economics, Aichi University, Japan)

Abstract

Demand for money has been discussed a lot from the past both in the theoretical and in the empirical fields of economics. In Japan, low or almost interest rates has been prevailed and there has been a strong demand for Japanese government bond, so there is possibility that money demand has been changed and been apart from traditional one. Also, exchange rates against Japanese currency and stock prices have fluctuated largely recently due to the introducing unprecedented financial policy from the 2000s. They might have affect macroeconomic variables and money demand function. Empirical evidence show that demand for money is affected by real GDP, prices, and exchange rates, and is also stable, however, stock prices have not impacts on demand for money.

Suggested Citation

  • Yutaka Kurihara, 2015. "The Demand for Money: Recent Japanese Case," Economy, Asian Online Journal Publishing Group, vol. 2(1), pages 10-15.
  • Handle: RePEc:aoj:econom:2015:p:10-15
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    References listed on IDEAS

    as
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    3. Rana Ejaz Ali Khan & Qazi Muhammad Adnan Hye, 2013. "Financial liberalization and demand for money: a case of Pakistan," Journal of Developing Areas, Tennessee State University, College of Business, vol. 47(2), pages 175-198, July-Dece.
    4. James Hueng, C., 1998. "The demand for money in an open economy: Some evidence for Canada," The North American Journal of Economics and Finance, Elsevier, vol. 9(1), pages 15-31.
    5. Mohsen Bahmani‐Oskooee & Dan Xi, 2011. "Economic Uncertainty, Monetary Uncertainty And The Demand For Money In Australia," Australian Economic Papers, Wiley Blackwell, vol. 50(4), pages 115-128, December.
    6. doğru, bülent, 2013. "Dynamic Analysis of Money Demand Function: Case of Turkey," MPRA Paper 48402, University Library of Munich, Germany.
    7. Tuck Cheong Tang, 2007. "Money demand function for Southeast Asian countries: An empirical view from expenditure components," Journal of Economic Studies, Emerald Group Publishing, vol. 34(6), pages 476-496, November.
    8. Arango, Sebastian & Ishaq Nadiri, M., 1981. "Demand for money in open economies," Journal of Monetary Economics, Elsevier, vol. 7(1), pages 69-83.
    9. Mohsen Bahmani-Oskooee & Dan Xi, 2014. "Economic Uncertainty, Monetary Uncertainty, and the Demand for Money: Evidence From Asian Countries," Australian Economic Papers, Wiley Blackwell, vol. 53(1-2), pages 16-28, June.
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