Note
College of Business
Member of
Contributors
Publisher
Florida Atlantic University
Date Issued
1985
Description
This thesis theoretically and empirically analyzes the effectiveness of
alternative monetary control procedures in the United States in recent years. The
overall strategy of monetary policy is described and the implications of the
federal funds rate and non-borrowed reserves targeting procedures for interest
rate volatility and money demand stability are discussed. Tests of linear
restrictions using dummy variable specifications as well as ex post forecasts
suggest that there has been a change in the interest elasticity as well as the
intercept of the money demand function in 1979. The empirical specifications
examined in this study use a partial-adjustment model and employ appropriate
econometric techniques to obtain consistent and efficient coefficient estimates.
Finally a reduced-form model of the money market is used to compare out-of-sample
forecasts from alternative operating procedures.
alternative monetary control procedures in the United States in recent years. The
overall strategy of monetary policy is described and the implications of the
federal funds rate and non-borrowed reserves targeting procedures for interest
rate volatility and money demand stability are discussed. Tests of linear
restrictions using dummy variable specifications as well as ex post forecasts
suggest that there has been a change in the interest elasticity as well as the
intercept of the money demand function in 1979. The empirical specifications
examined in this study use a partial-adjustment model and employ appropriate
econometric techniques to obtain consistent and efficient coefficient estimates.
Finally a reduced-form model of the money market is used to compare out-of-sample
forecasts from alternative operating procedures.
Language
Type
Form
Extent
85 p.
Subject (Topical)
Identifier
14238
Additional Information
College of Business
Thesis (M.A.)--Florida Atlantic University, 1985.
FAU Electronic Theses and Dissertations Collection
Date Backup
1985
Date Text
1985
Date Issued (EDTF)
1985
Extension
FAU
FAU
admin_unit="FAU01", ingest_id="ing1508", creator="staff:fcllz", creation_date="2007-07-19 02:18:54", modified_by="staff:fcllz", modification_date="2011-01-06 13:09:07"
IID
FADT14238
Issuance
monographic
Organizations
Attributed name: Florida Atlantic University
Attributed name: College of Business
Attributed name: Department of Economics
Person Preferred Name
WHITE, MARILYN.
Graduate College
Physical Description
85 p.
application/pdf
Title Plain
THEORETICAL AND EMPIRICAL ASSESSMENT OF ALTERNATIVE MONETARY CONTROL PROCEDURES IN THE UNITED STATES
Use and Reproduction
Copyright © is held by the author, with permission granted to Florida Atlantic University to digitize, archive and distribute this item for non-profit research and educational purposes. Any reuse of this item in excess of fair use or other copyright exemptions requires permission of the copyright holder.
http://rightsstatements.org/vocab/InC/1.0/
Origin Information
1985
monographic
Boca Raton, Fla.
Florida Atlantic University
Physical Location
Florida Atlantic University Libraries
Place
Boca Raton, Fla.
Sub Location
Digital Library
Title
THEORETICAL AND EMPIRICAL ASSESSMENT OF ALTERNATIVE MONETARY CONTROL PROCEDURES IN THE UNITED STATES
Other Title Info
A
THEORETICAL AND EMPIRICAL ASSESSMENT OF ALTERNATIVE MONETARY CONTROL PROCEDURES IN THE UNITED STATES