The demand for money and the term structure of interest-rates in Ireland, 1971-1981
Citation:
Colm Kearney, 'The demand for money and the term structure of interest-rates in Ireland, 1971-1981', Economic and Social Research Institute, Economic and Social Review, Vol.16, No. 2, 1985, 1985, pp157-166Download Item:
Abstract:
This paper investigates the extent to which the demand for various measures of money in Ireland depends upon the term structure of interest rates. The yield to maturity curve is first estimated using refinements of the approximation specification employed by Heller and Khan (1979). The estimated parameters are then entered as parameters into the money demand equations which are estimated using autoregressive least squares. Amongst other findings is a considerably greater response of money demand to a uniform shift in the yield curve than is obtained using conventional estimates which are based on only a single interest rate.
Author: Kearney, Colm
Publisher:
Economic & Social StudiesType of material:
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Series/Report no:
Economic and Social ReviewVol.16, No. 2, 1985
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Full text availableKeywords:
Money demand, Interest ratesISSN:
0012-9984Metadata
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