Impact of Foreign Monetary Developments on Demand for Money Regression Estimates and Forecast Results

Impact of Foreign Monetary Developments on Demand for Money Regression Estimates and Forecast... The empirical estimates for the money demand function reported hereare based on quarterly time series for Thailand for the period 19731 to19854. The money demand function estimated is novel in that it takesinto account the potential effect of external monetary developments ondomestic money demand in the open economy of Thailand. The empiricalresults show that foreign interest rates do play an important role inthe Thailand money demand function. Hence the Thailand monetaryauthorities should not ignore the response of domestic money demand toexternal factors in formulating their stabilisation policies. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Economic Studies Emerald Publishing

Impact of Foreign Monetary Developments on Demand for Money Regression Estimates and Forecast Results

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0144-3585
DOI
10.1108/EUM0000000000150
Publisher site
See Article on Publisher Site

Abstract

The empirical estimates for the money demand function reported hereare based on quarterly time series for Thailand for the period 19731 to19854. The money demand function estimated is novel in that it takesinto account the potential effect of external monetary developments ondomestic money demand in the open economy of Thailand. The empiricalresults show that foreign interest rates do play an important role inthe Thailand money demand function. Hence the Thailand monetaryauthorities should not ignore the response of domestic money demand toexternal factors in formulating their stabilisation policies.

Journal

Journal of Economic StudiesEmerald Publishing

Published: Feb 1, 1991

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