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• W2910860309 abstract "Previous research has considered the impacts of both monetary and output uncertainty on the demand for money in Australia using a linear model and found that while output volatility has significantly positive effects, money supply volatility does not. Furthermore, the predictive power of the linear model was very low. In this paper, we use a nonlinear model and a new measure of uncertainty known as policy uncertainty and show that this new measure has significantly long‐run asymmetric effects on the demand for money in Australia. Due to the nonlinear adjustment of policy uncertainty measure, the new nonlinear model has a very high predictive power. The adjusted R 2 moves from 0.30 in the linear model to 0.80 in the nonlinear model." @default.
• W2910860309 created "2019-01-25" @default.
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• W2910860309 date "2018-08-14" @default.
• W2910860309 modified "2023-10-10" @default.
• W2910860309 title "Policy Uncertainty and the Demand for Money in Australia: an Asymmetry Analysis" @default.
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• W2910860309 doi "https://doi.org/10.1111/1467-8454.12127" @default.
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