Money, Measurement and Computation - Hardcover

Hardcover

ISBN 10: 1403947937 ISBN 13: 9781403947932

Publisher: Palgrave Macmillan, 2005

Synopsis

In this book leading researchers from universities around the world bring together new ideas on measurement and computation of indices for the financial sector. The book is divided into three parts. The first part contains two chapters which present particularly new ideas and applications on models of the supply and demand for monetary assets in the UK. The first paper by William Barnett, Barry Jones, Milka Kirova, Travis Nesmith and Meenakshi Pasupathy explores some of the more popular cases in which cointegration is used as a basis for the construction of linear models, and, and runs tests for nonlinearity of the linear combination of the cointegrated variables. The second, by John Conion, Robert Dorsey and Norman Womer estimates the money aggregator function, using a new functional form that has a number of properties which make it useful for representing money aggregator functions. The second part contains five chapters on new approaches to hypothesis testing and data analysis. This includes a new approach to the smoothing problem by Erwin Diewert and Tim Wales and developing tests for a global maximum by Robert Dorsey and Walter Mayer. The final section considers problems of money measurement and debates issue central to the performance of Divisia monetary aggregates. The conclusions are that Divisia monetary aggregates outperform their simple sum counterparts in a range of applications.

About this title

About the Author

Michael Belongia is the Otho Smith Professor of Economics at the University of Mississippi, USA. Prior to this he worked for ten years at the Federal Reserve Bank of St. Louis as an Economist and Economic Adviser in the Bank's Research Department. Other experiences include service as a Visiting Scholar in the Research Department of the Swiss National Bank in Zurich and as a consultant to the Austrian National Bank and National Commerce Bank Corporation in Memphis. He also has served as a Visiting Professor at the University of Rotterdam, Sheffield University and the City University Business School in London. Between 1977-82, Professor Belongia worked as an economist for the Economic Research Service of the U.S. Dept. of Agriculture. Dr Jane Binner is a Senior Lecturer in Economics at Aston Business School, UK. Her research focuses on the area of financial modelling, with applied game theory her main field of interest. She is a member of the editorial board of the American journal Global Business & Economics Review and regularly reviews for journals such as Macroeconomic Dynamics, Journal of Economic Dynamics and Control, European Journal of Finance, Economic Modelling, Applied Economics and the Global Business and Economics Review.

Edition details

• Publisher: Palgrave Macmillan
• Publication date: 2005
• Language: English
• ISBN 10: 1403947937
• ISBN 13: 9781403947932
• Binding: Hardcover
• Number of pages: 280
• Editor: Belongia M., Binner Jane M