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- W1002097166 abstract "For the past fifteen years, the French money stock has been regulated by means of quantitative controls on credit. Under this method, and given the usual habits of the French banks, the monetary base has moved in relation to changes in the money stock in keeping with a familiar theoretical model known as the “credit divisor”, which is chiefly governed by public behaviour towards notes. The purpose of the present paper is to analyse changes in this ratio (B/M) over the past fifteen years and uncover their main explanatory factors. The method used consists of pairing a classic money demand function with a divisor-type relation, and of inferring from this a monetary base (or divisor) determination equation which is specified as a directly estimated error-correction model." @default.
- W1002097166 created "2016-06-24" @default.
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- W1002097166 date "1990-01-01" @default.
- W1002097166 modified "2023-10-05" @default.
- W1002097166 title "Analysis of the Relationship between Money Stock and Monetary Base: The French Experience during the Period of Quantitative Controls on Credit (1973–1985)" @default.
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- W1002097166 doi "https://doi.org/10.1007/978-94-015-7852-3_6" @default.
- W1002097166 hasPublicationYear "1990" @default.
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