Money and Economic Activity in Japan, 1946-1997
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概要
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This paper first represents money multipliers for Japan in terms of the ratios of cash currency to demand deposits, demand deposits to total deposits, and bank reserves to total deposits, to explore the determinants of those ratios using the instrumental variable method. We next examine, using variance decompostions in the VAR systems, the relative contribution of the above ratios to changes in money multipliers, as well as the contribution of the multipliers and base money to money supply changes, and find some interesting implications for monetary policy-makers. Finally, the money multipliers are esimated also using the instrumental variable method.Collected Papers on the Occasion of the Retirement of Professor Kenji Komatsu
- 千葉大学の論文
- 1999-12-01
著者
関連論文
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