An Empirical Identification of the Swedish Money Stock
(1981) In Scandinavian Journal of Economics 83(1). p.68-78- Abstract
- A measure of the Swedish money stock is identified in this paper using an empirical approach. Correlation coefficients between quarterly changos in a number of monetary assets and economic activity are calculated for leading, concurrent and lagging observations. Coins and notes exhibit close simultaneous covariation with economic activity. Commercial bank, savings bank and Post Office Bank deposits lead changes in economic activity by 6-8 quarters. This countercycUcal pattern is best regarded as the outcome of Eikabank policy. The empirical results suggest a defmition of the Swedish money stock as the sum of the volume of notea and
commercial bank deposits held by the public.
Please use this url to cite or link to this publication:
https://lup.lub.lu.se/record/5f41acf0-ec44-4e05-9692-5ee1381851f3
- author
- Jonung, Lars LU
- organization
- publishing date
- 1981
- type
- Contribution to journal
- publication status
- published
- subject
- in
- Scandinavian Journal of Economics
- volume
- 83
- issue
- 1
- pages
- 11 pages
- publisher
- Wiley-Blackwell
- ISSN
- 1467-9442
- DOI
- 10.2307/3439805
- language
- English
- LU publication?
- yes
- id
- 5f41acf0-ec44-4e05-9692-5ee1381851f3
- date added to LUP
- 2019-07-14 12:37:46
- date last changed
- 2019-07-22 09:32:42
@article{5f41acf0-ec44-4e05-9692-5ee1381851f3, abstract = {{A measure of the Swedish money stock is identified in this paper using an empirical approach. Correlation coefficients between quarterly changos in a number of monetary assets and economic activity are calculated for leading, concurrent and lagging observations. Coins and notes exhibit close simultaneous covariation with economic activity. Commercial bank, savings bank and Post Office Bank deposits lead changes in economic activity by 6-8 quarters. This countercycUcal pattern is best regarded as the outcome of Eikabank policy. The empirical results suggest a defmition of the Swedish money stock as the sum of the volume of notea and<br/>commercial bank deposits held by the public.<br/>}}, author = {{Jonung, Lars}}, issn = {{1467-9442}}, language = {{eng}}, number = {{1}}, pages = {{68--78}}, publisher = {{Wiley-Blackwell}}, series = {{Scandinavian Journal of Economics}}, title = {{An Empirical Identification of the Swedish Money Stock}}, url = {{https://lup.lub.lu.se/search/files/67478173/53_Lars_Jonung_An_empirical_identification_of_the_Swedish_money_stock_Scandinavian_Journal_of_Economics_1981.pdf}}, doi = {{10.2307/3439805}}, volume = {{83}}, year = {{1981}}, }