𝔖 Bobbio Scriptorium
✦   LIBER   ✦

The long-run demand for currency and broad money in Italy, 1861–1980

✍ Scribed by Thornton, John


Book ID
126720696
Publisher
Taylor and Francis Group
Year
1998
Tongue
English
Weight
188 KB
Volume
5
Category
Article
ISSN
1350-4851

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Adjustment costs and nonlinear dynamics
✍ Lucio Sarno 📂 Article 📅 1999 🏛 John Wiley and Sons 🌐 English ⚖ 278 KB

Target-bounds models and buffer stock models in the presence of adjustment costs imply nonlinear functional forms for the aggregate demand for money characterized by smooth adjustment towards long-run equilibrium. This paper presents a stable empirical model for the demand for narrow money in Italy