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Semi-Nonparametric Estimates of the Demand for Money in the United States

In: Money And The Economy

Author

Listed:
  • Apostolos Serletis

    (University of Calgary, Canada)

  • Asghar Shahmoradi

Abstract

AbstractThe following sections are included:IntroductionThe Demand for Monetary ServicesThe DataThe Fourier and AIM ModelsThe FourierThe AIMComputational ConsiderationsImposing Curvature RestrictionsIncome and Price ElasticitiesElasticities of SubstitutionOn Confidence IntervalsConclusions

Suggested Citation

  • Apostolos Serletis & Asghar Shahmoradi, 2006. "Semi-Nonparametric Estimates of the Demand for Money in the United States," World Scientific Book Chapters,in: Money And The Economy, chapter 14, pages 278-298 World Scientific Publishing Co. Pte. Ltd..
  • Handle: RePEc:wsi:wschap:9789812773500_0014
    as

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    Citations

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    Cited by:

    1. Barnett, William A. & Serletis, Apostolos, 2008. "Consumer preferences and demand systems," Journal of Econometrics, Elsevier, vol. 147(2), pages 210-224, December.
    2. Ryu, Hang Keun, 2011. "Subjective model selection rules versus passive model selection rules," Economic Modelling, Elsevier, vol. 28(1-2), pages 459-472, January.
    3. Serletis, Apostolos & Shahmoradi, Asghar, 2008. "Semi-nonparametric estimates of interfuel substitution in U.S. energy demand," Energy Economics, Elsevier, vol. 30(5), pages 2123-2133, September.
    4. Elger, Thomas, 2002. "The Demand for Monetary Assets in the UK; a Locally Flexible Demand System Analysis," Working Papers 2002:6, Lund University, Department of Economics.
    5. William A. Barnett & Neepa B. Gaekwad, 2018. "The Demand for Money for EMU: a Flexible Functional Form Approach," Open Economies Review, Springer, vol. 29(2), pages 353-371, April.
    6. Serletis, Apostolos & Shahmoradi, Asghar, 2010. "Consumption effects of government purchases," Journal of Macroeconomics, Elsevier, vol. 32(3), pages 892-905, September.
    7. Haroon Sarwar & Zakir Hussain & Masood Sarwar, 2011. "A Semi-Nonparametric Approach to the Demand for Money in Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 16(2), pages 87-110, Jul-Dec.
    8. Guohua Feng & Apostolos Serletis, 2009. "Efficiency and productivity of the US banking industry, 1998-2005: evidence from the Fourier cost function satisfying global regularity conditions," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 24(1), pages 105-138.
    9. Per Hjertstrand & James Swofford, 2012. "Revealed preference tests for consistency with weakly separable indirect utility," Theory and Decision, Springer, vol. 72(2), pages 245-256, February.
    10. Barnett, William A. & Usui, Ikuyasu, 2006. "The Theoretical Regularity Properties of the Normalized Quadratic Consumer Demand Model," MPRA Paper 410, University Library of Munich, Germany.
    11. Asghar Shahmoradi & Afshin Honarvar, 2008. "Gasoline subsidy and consumer surplus in the Islamic Republic of Iran," OPEC Energy Review, Organization of the Petroleum Exporting Countries, vol. 32(3), pages 232-245, September.
    12. Hang Ryu, 2009. "Economic assumptions and choice of functional forms: comparison of top down and bottom up approaches," Journal of Productivity Analysis, Springer, vol. 32(1), pages 55-62, August.
    13. Feng, Guohua & Serletis, Apostolos, 2008. "Productivity trends in U.S. manufacturing: Evidence from the NQ and AIM cost functions," Journal of Econometrics, Elsevier, vol. 142(1), pages 281-311, January.
    14. Barnett, William A. & Serletis, Apostolos, 2008. "Measuring Consumer Preferences and Estimating Demand Systems," MPRA Paper 12318, University Library of Munich, Germany.
    15. Ryu, Hang Keun, 2011. "Subjective model selection rules versus passive model selection rules," Economic Modelling, Elsevier, vol. 28(1), pages 459-472.

    More about this item

    Keywords

    Monetary Aggregation; Demand for Money; Demand Systems; Flexible Functional Forms; Welfare Cost of Inflation; Money-Income Causality; Nominal Stylized Facts;

    JEL classification:

    • E17 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Forecasting and Simulation: Models and Applications
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • I39 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Other

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