IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this article or follow this journal

Toward a consistent estimate of the demand for monies: An application of the fourier flexible form

  • Ewis, Nabil A.
  • Fisher, Douglas
Registered author(s):

    This paper offers new results for the demand for liquid assets. The paper embloys standard demand theory and, using duality and a full set of cross-equation restrictions, provides empirical results on U.S. data up to 1979 employing Gallant's Fourier flexible form. The properties of the globally flexible Fourier are discussed and the strength of the model, in producing statistically significant estimates of elasticities of substitution, is demonstrated on the data. The results show low and variable substitution (and complementarity) among the liquid assets and suggest that present techniques of aggregating monies may be unwise. This confirms work by Barnett, Offenbacher and Ewis-Fisher using different flexible forms.

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL: http://www.sciencedirect.com/science/article/B6X4M-4MVG2B0-2/2/4c05a686210163299fcd4b34e3d4279c
    Download Restriction: Full text for ScienceDirect subscribers only

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Article provided by Elsevier in its journal Journal of Macroeconomics.

    Volume (Year): 7 (1985)
    Issue (Month): 2 ()
    Pages: 151-174

    as
    in new window

    Handle: RePEc:eee:jmacro:v:7:y:1985:i:2:p:151-174
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622617

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:eee:jmacro:v:7:y:1985:i:2:p:151-174. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)

    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.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.

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

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.