Hasan, Mohammad S (2009) Financial Innovations and the Interest Elasticity of Money Demand in the United Kingdom, 1963–2009. International Journal of Business and Economics, 8 (3). pp. 225-242. ISSN 1607-0704. (The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided) (KAR id:23702)
| The full text of this publication is not currently available from this repository. You may be able to access a copy if URLs are provided. |
Abstract
This paper empirically examines the relationship between financial innovations and interest elasticity of money demand in the UK. Contrary to most research work in this area, the results indicate that financial innovations and other deregulatory changes in financial market conditions after the 1980s have raised the interest elasticity of money demand, and this appears to support the Gurley-Shaw hypothesis. The evidence calls into question the relative efficacy of a monetary targeting approach in the conduct of monetary policy.
| Item Type: | Article |
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| Uncontrolled keywords: | interest elasticity; money demand; financial innovations; Gurley-Shaw hypothesis; rolling regressions |
| Subjects: | H Social Sciences |
| Divisions: | Divisions > Kent Business School - Division > Department of Accounting and Finance |
| Depositing User: | Mohammad Hasan |
| Date Deposited: | 01 Feb 2010 12:27 UTC |
| Last Modified: | 16 Nov 2021 10:02 UTC |
| Resource URI: | https://kar.kent.ac.uk/id/eprint/23702 (The current URI for this page, for reference purposes) |
University of Kent Author Information
Hasan, Mohammad S.
| Creator's ORCID: |
 https://orcid.org/0000-0002-2453-6868
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