Read In Search of a Dramatic Equilibrium: Was the Armenian DRAM Overvalued?

In Search of a Dramatic Equilibrium: Was the Armenian DRAM Overvalued?

Unknown Author

4.9/5 (12357 ratings)

Description:Recent changes to China's financial system, in particular ongoing interest rate liberalization, gradual movement toward a more flexible exchange rate regime, and rapid development of capital markets, have changed substantially the environment in which monetary policy operates. In light of these changes, we estimate an error correction model using a General-to-Specific methodology and confirm that a stable broad money demand function exists taking proper account of asset substitution, with an income elasticity of less than unity. Current inflation is found to have a significant negative impact on the real money demand. However, money demand does not appear very sensitive to interest rates, possibly reflecting their partial liberalization. Changes in the exchange rate also do not affect money demand significantly, but expectations of a further renminbi appreciation since 2005 appears to induce more money demand. Stock prices are statistically insignificant despite recent investors' interest in equity markets.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with In Search of a Dramatic Equilibrium: Was the Armenian DRAM Overvalued?. To get started finding In Search of a Dramatic Equilibrium: Was the Armenian DRAM Overvalued?, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

Pages: 20

Format: PDF, EPUB & Kindle Edition

Publisher: International Monetary Fund

Release: 2014

ISBN: 1282842714

Description: Recent changes to China's financial system, in particular ongoing interest rate liberalization, gradual movement toward a more flexible exchange rate regime, and rapid development of capital markets, have changed substantially the environment in which monetary policy operates. In light of these changes, we estimate an error correction model using a General-to-Specific methodology and confirm that a stable broad money demand function exists taking proper account of asset substitution, with an income elasticity of less than unity. Current inflation is found to have a significant negative impact on the real money demand. However, money demand does not appear very sensitive to interest rates, possibly reflecting their partial liberalization. Changes in the exchange rate also do not affect money demand significantly, but expectations of a further renminbi appreciation since 2005 appears to induce more money demand. Stock prices are statistically insignificant despite recent investors' interest in equity markets.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with In Search of a Dramatic Equilibrium: Was the Armenian DRAM Overvalued?. To get started finding In Search of a Dramatic Equilibrium: Was the Armenian DRAM Overvalued?, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

Special Offer | $0.00

Special Offer! | $0.00

In Search of a Dramatic Equilibrium: Was the Armenian DRAM Overvalued?

In Search of a Dramatic Equilibrium: Was the Armenian DRAM Overvalued?

More Books