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An Empirical Identification of the Swedish Money Stock

Jonung, Lars LU (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.
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author
organization
publishing date
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/ws/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},
}