Endogenous Money - A Structural Model of Monetary Base
In this paper, a structural monetary base model is developed. An important feature of this approach is that the model combines three parts of the determinants of the monetary base. The three parts are the commercial bank, the public and the central bank. Bank behaviour relies on an explicit specification of a maximum profit-seeking and risk-averse model which describes the determinants of the supply of deposits by banks as well as their demands for earning assets and (free) reserves. The behaviours of the public and central bank are set up exogeneously. According to the structural model, we derive the monetary base equation which is determined by various financial and real variables endogenously.
|This book is provided by South East Asian Central Banks (SEACEN) Research and Training Centre in its series Occasional Papers with number occ52 and published in 2011.|
|Contact details of provider:|| Postal: Level 5, Sasana Kijang, Bank Negara Malaysia, 2 Jalan Dato? Onn, 50480 Kuala Lumpur|
Phone: 603-9195 1888
Fax: 603-9195 1801
Web page: http://edirc.repec.org/data/seacemy.html
More information through EDIRC
References listed on IDEAS
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.:
- Muhammad Arshad Khan, 2010. "Testing of money multiplier model for Pakistan: does monetary base carry any information?," Economic Analysis Working Papers (2002-2010). Atlantic Review of Economics (2011-2016), Colexio de Economistas de A Coruña, Spain and Fundación Una Galicia Moderna, vol. 9, pages 1-20, February.
- Seth B. Carpenter & Selva Demiralp, 2010.
"Money, reserves, and the transmission of monetary policy: does the money multiplier exist?,"
Finance and Economics Discussion Series
2010-41, Board of Governors of the Federal Reserve System (U.S.).
- Carpenter, Seth & Demiralp, Selva, 2012. "Money, reserves, and the transmission of monetary policy: Does the money multiplier exist?," Journal of Macroeconomics, Elsevier, vol. 34(1), pages 59-75.
- Goyal, Ashima & Dash, Shridhar, 2000. "The Money Supply Process in India: Identification, Analysis and Estimation," MPRA Paper 24632, University Library of Munich, Germany.
- Matthew Higgins & Thomas Klitgaard, 2004. "Reserve accumulation: implications for global capital flows and financial markets," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 10(Sep).
- Giuseppe Fontana, 2003. "Post Keynesian Approaches to Endogenous Money: A time framework explanation," Review of Political Economy, Taylor & Francis Journals, vol. 15(3), pages 291-314.
- Raghbendra Jha & Deba Prasad Rath, 2001.
"On the Endogeneity of the Money Multiplier in India,"
ASARC Working Papers
2001-12, The Australian National University, Australia South Asia Research Centre.
- Jha, Raghbendra & Prasad Rath, Deba, 2001. "On the Endogeneity of the Money Multiplier in India," Departmental Working Papers 2001-01, The Australian National University, Arndt-Corden Department of Economics.
- Muhammad Mahboob Ali & Victoria Wise, 2010. "Money Supply Function for Bangladesh: An Empirical Analysis," AIUB Bus Econ Working Paper Series AIUB-BUS-ECON-2010-01, American International University-Bangladesh (AIUB), Office of Research and Publications (ORP), revised Feb 2010.
- Kevin S. Nell, 2001.
"The Endogenous/Exogenous Nature of South Africa's Money Supply under Direct and Indirect Monetary Control Measures,"
Journal of Post Keynesian Economics,
M.E. Sharpe, Inc., vol. 23(2), pages 313-329, January.
- Kevin S. Nell, 1999. "The Endogenous/Exogenous Nature of South Africa's Money Supply Under Direct and Indirect Monetary Control Measures," Studies in Economics 9912, School of Economics, University of Kent.
- Qin, Duo & Quising, Pilipinas & He, Xinhua & Liu, Shiguo, 2005. "Modeling monetary transmission and policy in China," Journal of Policy Modeling, Elsevier, vol. 27(2), pages 157-175, March.
- Co-Pierre Georg & Markus Pasche, 2008. "Endogenous Money - On Banking Behaviour in New and Post Keynesian Models," Jena Economic Research Papers 2008-065, Friedrich-Schiller-University Jena, revised 01 Oct 2008.
- Carlos Montoro & Ramon Moreno, 2011. "The use of reserve requirements as a policy instrument in Latin America," BIS Quarterly Review, Bank for International Settlements, March.
- Thomas I. Palley, 1994. "Competing Views Of The Money Supply Process: Theory And Evidence," Metroeconomica, Wiley Blackwell, vol. 45(1), pages 67-88, 02.
When requesting a correction, please mention this item's handle: RePEc:sea:opaper:occ52. 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: (Yunyee)
If references are entirely missing, you can add them using this form.