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Academic literature on the topic 'Demand for money – Italy – Econometric models'

Author: Grafiati

Published: 10 March 2023

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Journal articles on the topic "Demand for money – Italy – Econometric models"

1

Bolkesjø, Torjus Folsland, Michael Obersteiner, and Birger Solberg. "Information technology and the newsprint demand in Western Europe: a Bayesian approach." Canadian Journal of Forest Research 33, no. 9 (September 1, 2003): 1644–52. http://dx.doi.org/10.1139/x03-083.

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This paper focuses on the impacts of new information technology on newsprint demand in a sample of West European countries (Germany, Italy, Spain, and the United Kingdom). It is hypothesized that information technology, through the ready and free availability of news content on the Internet, could induce a structural shift in the newsprint consumption pattern in these markets. Econometric analyses based on historical data for the four countries mentioned above do not yet support this hypothesis. Based on evidence from the United States, where Internet penetration is higher, and several recently published market studies, there is, however, reason to expect stagnating newsprint consumption in Western Europe. By using Bayesian demand models, we try to incorporate prior information from these market studies in the econometric analysis. A classical demand model, based solely on historical data from 1971 to 1999, is estimated for comparison with the Bayesian models. Predictions for newsprint consumption based on the Bayesian approach show lower future consumption levels than those predicted by the classical models, which are commonly used in forest product demand studies. We conclude that Bayesian models carry the potential to improve the quality of forest products demand analyses when a structural break can be expected and sufficient information on its dynamics is available.

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Amadhila, Elina, and Sylvanus Ikhide. "Unfulfilled loan demand among agro SMEs in Namibia." South African Journal of Economic and Management Sciences 19, no. 2 (May 13, 2016): 264–81. http://dx.doi.org/10.4102/sajems.v19i2.1398.

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Using a qualitative methodology approach, a case study research design by way of in-depth semi-structured interview(s) was followed to interview farmers, commercial banks, development banks, venture capitals and private equities to determine the financing options available for farmers and provide reasons why some financial institutions shy away from providing finance to agricultural enterprises. This study deviates from prior studies which have focused on small-scale farmers and subjected farmers’ access to finance to rural credit markets, mostly informal money lenders using secondary information mostly from household surveys to build econometric models. The study indicates that only about 33 percent of formal financial institutions are providing finance to agricultural SMEs. The lack of expertise and perception of risk were cited as top reasons why formal financial institutions find it hard to provide finance to agricultural SMEs. Building on opinions from other authors cited in this paper, we maintain that new financing mechanisms can be achieved by all types of financial institutions through learning from experiences by other successful countries.

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Atkinson, Paul, and Adrian Blundell-Wignall. "What Problem Is Post-Crisis QE Trying to Solve?" Journal of Risk and Financial Management 15, no. 2 (January 18, 2022): 40. http://dx.doi.org/10.3390/jrfm15020040.

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What problem the Fed and other central banks are solving by printing money and letting interest rates fall to zero is the focus of this paper. This activity does not appear to affect nominal GDP or inflation prior to COVID, and yet central bank liabilities have continued to rise. This suggests the presence of rising cash demand that has prevented excess cash and inflation pressures from emerging. While there was some hope that quantitative easing would be a new instrument in addition to interest rates as far as monetary policy goals were concerned, this has not proved to be the case. Instead, banking system demand for central bank liabilities keeps rising as an endogenous response to the changed business models of banks forced on them by post-crisis re-regulation and extremely low interest rates. These ideas were tested with cointegration and error correction econometric techniques. Examples of the growing risk of leverage and counterparty risks in this disequilibrium process are provided.

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4

Hall, S. G., and R. Herbert. "Consistent Simulations and the National Institute Model 8." National Institute Economic Review 115 (February 1986): 64–73. http://dx.doi.org/10.1177/002795018611500107.

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This paper will present a set of simulation exercises, and discuss some of the methodological issues arising from the new National Institute Model 8. This model has been developed from earlier models used at the National Institute and has much in common with those models. In particular, it adheres to a traditional income-expenditure framework and is, in broad outline, a Keynesian model. The new feature of Model 8 which distinguishes it from its predecessors is the explicit widespread treatment of expectations. Recognition of the importance of expectations in macroeconomics is widely disseminated and much attention has been given recently in the econometric literature to the modelling of expectations. Model 8 now includes explicit expectations terms in the following sectors: employment, stockbuilding, investment, wage formation, the exchange rate and the demand for money. The details of individual equation estimation and specification may be found in Hall and Henry (1985a) and will not be given here. In the estimation process much use has been made of the rational expectations hypothesis, while in the full model implementation expectations may be formed either consistently or on the basis of explicit expectations models.

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Liu, Anyu, and Haiyan Song. "Analysis and Forecasts of the Demand for Imported Wine in China." Cornell Hospitality Quarterly 62, no. 3 (January 19, 2021): 371–85. http://dx.doi.org/10.1177/1938965520981070.

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The aim of this study is to investigate the long-term determinants of China’s imported wine demand and to forecast wine imports from 2019 to 2023 using econometric methods. Auto-regressive distributed lag models are developed based on neoclassical economic demand theory to investigate the long-term determinants of China’s demand for imported bottled, bulk, and sparkling wine from the top five countries of origin. The empirical results demonstrate that income is the most important determinant of China’s imported wine demand, and that price only plays a significant role in a few markets. Substitute and complement effects are identified between wines from different countries of origin and between imported wines and other liquids. China’s imported wine demand is expected to maintain its rapid growth over the forecast period. Bottled wine will continue to dominate China’s imported wine market. France will have the largest market share in the bottled wine market, Spain will be the largest provider of bulk wine, and Italy will hold the same position for sparkling wine. This is the first study to use a single equation with the general to specific method rather than a system of equations to estimate and forecast China’s demand for imported bottled, bulk, and sparkling wines from different countries of origin. The more specific model setting for each country of origin improves forecasting accuracy.

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Hasan, Umair, Andrew Whyte, and Hamad Al Jassmi. "Life-cycle Asset Management in Residential Developments Building on Transport System Critical Attributes via a Data-mining Algorithm." Buildings 9, no. 1 (December 20, 2018): 1. http://dx.doi.org/10.3390/buildings9010001.

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Public transport can discourage individual car usage as a life-cycle asset management strategy towards carbon neutrality. An effective public transport system contributes greatly to the wider goal of a sustainable built environment, provided the critical transit system attributes are measured and addressed to (continue to) improve commuter uptake of public systems by residents living and working in local communities. Travel data from intra-city travellers can advise discrete policy recommendations based on a residential area or development’s public transport demand. Commuter segments related to travelling frequency, satisfaction from service level, and its value for money are evaluated to extract econometric models/association rules. A data mining algorithm with minimum confidence, support, interest, syntactic constraints and meaningfulness measure as inputs is designed to exploit a large set of 31 variables collected for 1,520 respondents, generating 72 models. This methodology presents an alternative to multivariate analyses to find correlations in bigger databases of categorical variables. Results here augment literature by highlighting traveller perceptions related to frequency of buses, journey time, and capacity, as a net positive effect of frequent buses operating on rapid transit routes. Policymakers can address public transport uptake through service frequency variation during peak-hours with resultant reduced car dependence apt to reduce induced life-cycle environmental burdens of buildings by altering residents’ mode choices, and a potential design change of buildings towards a public transit-based, compact, and shared space urban built environment.

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Gianfrate, Fabrizio. "Il federalismo in sanità: opportunità e rischi tra finanziamento, equità ed assistenza." Farmeconomia. Health economics and therapeutic pathways 6, no. 3 (September 15, 2005): 207–14. http://dx.doi.org/10.7175/fe.v6i3.835.

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Federalism in Italy arised beginning ’90, pushed bipartisanly from establishment in order to contrast the succesfull poll of northern league party. Being about 80% of the regions budget for healthcare, federalism had its hard impact on it. Regions can manage autonomously their healthcare organization, adding to the State financial resources own money earning from other their services or coming from local taxes, on condition that they provide the State LEA (Essential Level of Assistance). That means a high level of responsabilization for local government for reaching a higher level of efficiency in allocation of resources and organizational models of production and erogation of healthcare, beside a better ability to catch local healthcare demand. Even if now the sharing of State financial resources are agreed between all regions and Government, it’s not clear for the future wheter each region will have to procure its own finance, introducing many problems for those southern regions unable to substain theirselves. It has still to be defined wheter and how reach regions will have to transfer part of their resources to the poor ones. That means a risk of iniquity of level in healthcare provision among regions of the same country, generating possible social conflict. Therefore federalism now has from a hand the opportunity to better tail healthcare on each local demand and, on the other hand, it risks to introduce social disparity and conflicts.

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Md Saad, Norma, and Jarita Duasa. "Determinants of Economic Performance of Micro-Credit Clients and Prospects for Islamic Microfinance in Malaysia." ISRA International Journal of Islamic Finance 2, no. 1 (June 15, 2010): 111–28. http://dx.doi.org/10.55188/ijif.v2i1.94.

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This study is divided into two parts. The first part of the study utilises econometric models to assess the economic performance of clients participating in the microcredit programme of Amanah Ikhtiar Malaysia (AIM). Several proxies are used for the economic performance variable (dependent variable), including level of earnings/income, ratio of spending to income and value of assets. The regressors (independent variables) used are education level, age, amount of loan, source of income and ownership of assets. The second part of this study concentrates on analysing the prospects of introducing Islamic microfinance products to be used in microfinance activities in Malaysia. In the first part of the study, we find that the economic performance of AIM participants is significantly determined by the amount of money borrowed from AIM. Other factors found to influence the respondents’ economic performance are education level, age, gender, assets owned before joining AIM and area of residence. Because level of education is found to contribute significantly to the economic performance of AIM participants, it is suggested that AIM work to educate its borrowers, and more specifically, to provide business training. In the second part of the study, the results show that there is a great demand for Islamic microfinance products in Malaysia. The findings of the study could serve as general guidelines for microfinance institutions in designing Islamic microfinance products for either Muslims or non-Muslim micro-entrepreneurs.

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9

Thomas, John James. "Algunos desarrollos recientes en la metodología de la econometría aplicada." Lecturas de Economía, no. 19 (March 24, 2011): 209–40. http://dx.doi.org/10.17533/udea.le.n19a8081.

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• Resumen: Debido a diversos factores o prejuicios que afectan el trabajo econométrico de la mayoría de los economistas, usualmente se siguen secuencias ad-hoc para la construcción de modelos. Esto es, se prueba una serie de ecuaciones que comienza con una forma funcional simple a la cual se le introducen o eliminan otras variables con base en criterios exclusivamente estadísticos (significancia, bondad de ajuste, etc.). En los últimos años, algunos autores han considerado que tales procedimientos pueden conducir a conclusiones espurias. Proponen como alternativa iniciar la serie de pruebas con base en un modelo lo más general posible (que incluya o "encajone" las diferentes hipótesis teóricas) y posteriormente investigue qué tanto puede simplificarse dicho modelo, siguiendo procedimientos legítimos. En este artículo se utiliza el caso de la demanda de dinero en el Reino Unido para realizar un ejercicio que muestra las bondades del método propuesto. • Abstract: For a variety of reasons economists tend to construct their econometric models in ad-hoc ways. They start with a simple specification of a series of equations and add or subtract variables on the basis of exclusively statistical criteria. In recent years it has been realized that such an approach can easily produce spurious results. It is now preferred to commence one's analysis with as general a specification of the model as possible which nests possible alternatives. One then can legitimately compare the original specification with the various nested forms. This paper uses the case of the demand for money in the United Kingdom as an example of the method.

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Gebremariam, Aregawi Gebremedhin. "Hello, I am calling to ask for some money: mobile phones and credit uptake in rural Ethiopia." African Journal of Economic and Management Studies 11, no. 3 (April 15, 2020): 457–80. http://dx.doi.org/10.1108/ajems-03-2019-0109.

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PurposeIt is widely believed that ICT has a significant influence on the daily life of the poor and has positive spillover effects in their livelihoods. Mobile phones are one of the few ICT innovations that have found their way into the hands of the poor residing in remote and rural areas. In Ethiopia, mobile phones are recently introduced but got an acceptance from everyone including the rural poor; in five years’ time, mobile phones subscription has increased from less than 4% to more than 40%. Empirical evidence generally documents the positive role mobile phones play in facilitating the development efforts of poor households. However, using panel data from Ethiopia, the current paper explores a less investigated issue of the possible effects of mobile phone adoption on the credit uptakes of the rural poor who are mostly neglected from the formal credit markets but finance their credit demand from informal sources including relatives/friends.Design/methodology/approachTo investigate the relationship between mobile phones and credit uptake and/or loan size, one can use different empirical strategies. For partly unleashing the endogeneity problem, an instrumental variable estimation approach is adopted in this paper. To deal with the endogeneity problem, one may consider using the linear IV approach or the control function. But the outcome variable and the endogenous variable are binary in nature, and the usual trend is to use the linear IV models or control functions, which do not consider these binary natures of the variables. To this end, a special regressors estimator is adopted, mostly used when both the dependent and the endogenous variables are binary in nature.FindingsThe econometric results suggest mobile phones are positively associated with the credit uptake of rural households, especially credit uptake from informal sources. Households with mobile phones are found to have 4%–14% higher probabilities of credit uptake and about 6%–17% in the case of credit from informal sources. Besides, households with mobile phones are found to have about ETB 65 (USD 3.42) higher loan size and about ETB 78 (USD 4.11) higher amount of loan in the case of a loan from the informal sources. Thus, policy-makers and financial providers working on providing credit in rural areas need to exploit the use of mobile phones in reaching out to the rural poor.Originality/valueThe author attests the fact that the work described has not been published previously and that it is not under consideration for publication elsewhere. Besides, it is the original work of the author.

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Dissertations / Theses on the topic "Demand for money – Italy – Econometric models"

1

Leigh, Lamin. "Financial development, economic growth and the effect of financial innovation on the demand for money in an open economy : an econometric analysis for Singapore." Thesis, University of Oxford, 1995. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.282018.

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Adam, Christopher S. "The demand for money, asset substitution and the inflation tax in a liberalizing economy : an econometric analysis for Kenya." Thesis, University of Oxford, 1992. http://ora.ox.ac.uk/objects/uuid:037dcc1e-edff-4096-89cb-6d24a70742d8.

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This thesis develops empirical econometric models of the private sector aggregate demand for real and financial assets in Kenya over the period 1973 to 1990. Single-equation error-correction models of the demand for money are estimated using systems cointegration methods developed by Johansen (1988). The models are found to be statistically stable functions throughout the period, and are capable of encompassing existing studies. Across a range of monetary aggregates, including a Divisia index aggregate for broad money, the models describe demand for money functions in which inflation and illegal foreign currency substitution are significant determinants of money holdings, and where the private sector adjusts rapidly to deviations from its stable longrun equilibrium real money demand. The demand for money is then integrated within a neo-classical model of asset demands, which examines the behaviour of the aggregate private sector asset portfolio in response to changes in relative prices between assets and to external shocks to the economy, principally the 1976-77 coffee boom. A variant of the Almost Ideal Demand System model developed by Deaton and Muellbauer (1980) is estimated for a class of six assets: base money, banking system deposits, government securities, tradable capital, nontradable capital and inventories. The asset substitution model, which also takes an errorcorrection form, and which allows for credit rationing, generates results which are consistent with the earlier demand for money models, where private agents are also denied access to foreign-denominated assets. Using this model, the maintenance of policies of financial repression are shown to cause the private sector to offset inflationary shocks through the accumulation of real assets, principally in the form of non-tradable capital in the construction and property sectors. The evidence from the two models is used to analyze the fiscal effects of the inflation tax and financial repression measures. Policies of financial liberalization are shown to reduce the revenue maximizing rate of inflation (estimated to be 14% per annum) and the implicit tax on domestic holders of government liabilities. This dampens asset substitution in response to inflationary shocks and offsets the adverse effects of "construction-boom" investment on non-tradable capital prices.

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GENNARI, Elena. "Econometric modeling of regime shifts : money demand and monetary transmission mechanisms in Italy 1970-1994." Doctoral thesis, 2001. http://hdl.handle.net/1814/4933.

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Defence date: 14 May 2001
Examining board: Prof. Anindya Banerjee, EUI ; Prof. Giorgio Calzolari, University of Florence ; Prof. Grayham Mizon, EUI and University of Southampton, Supervisor ; Prof. Timo Teräsvirta, Stockhol School of Economics
PDF of thesis uploaded from the Library digitised archive of EUI PhD theses completed between 2013 and 2017

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Books on the topic "Demand for money – Italy – Econometric models"

1

Carpenter, Seth B. Money demand and equity markets. Washington, D.C: Federal Reserve Board, 2003.

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Atta-Mensah, Joseph. Money demand and economic uncertainty. Ottawa: Bank of Canada, 2004.

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Easterly, William Russell. Money demand and seignorage-maximizing inflation. Washington, DC (1818 H. St. NW, Washington 20433): Country Economics Dept., the World Bank, 1992.

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Nassar, Koffie Ben. Money demand and inflation in Madagascar. [Washington, D.C.]: International Monetary Fund, African Dept., 2005.

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Arif, R. R. Money demand stability: Myth or reality, an econometric analysis. Mumbai: Dept. of Economic Analysis and Policy, Reserve Bank of India, 1996.

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Krusell, Per. The demand for money in Sweden, 1970-1983. Stockholm, Sweden: Stockholm School of Economics, the Economic Research Institute, 1986.

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Ripatti, Antti. Econometric modelling of the demand for money in Finland. Helsinki: Suomen Pankki, 1994.

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Buffer stock models and the demand for money. Basingstoke, Hampshire: Macmillan, 1994.

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Risto, Heijmans, Neudecker Heinz, and Cramer J. S. 1928-, eds. The Practice of econometrics: Studies on demand, forecasting, money, and income. Dordrecht: Kluwer Academic, 1987.

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Ball, Laurence M. Another look at long-run money demand. Cambridge, MA: National Bureau of Economic Research, 1998.

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Book chapters on the topic "Demand for money – Italy – Econometric models"

1

Mizen, Paul. "Econometric methods." In Buffer Stock Models and the Demand for Money, 60–77. London: Macmillan Education UK, 1994. http://dx.doi.org/10.1007/978-1-349-23660-2_4.

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