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  • 1
    Electronic Resource
    Electronic Resource
    Springer
    De economist 138 (1990), S. 276-301 
    ISSN: 1572-9982
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary This article presents an analysis of demand for money in The Netherlands, both at the aggregate level and the sectoral level. Special attention is devoted to the distinction between short and long run demand. Deviations of the long-run relationships are modelled by means of the error correction mechanism. The elasticities for aggregate demand are consistent with the findings for the money demand by the household and business sectors and correspond reasonably well with those derived from other studies. The estimated equations describe the rise in theM1- andM2-ratio in the 1980s in a satisfactory way, although forM2 from 1987 onwards there is a discrepancy between actual and fitted values. The disaggregated analysis shows that the behaviour of the business sector seems to be responsible for this.
    Type of Medium: Electronic Resource
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  • 2
    Electronic Resource
    Electronic Resource
    Springer
    De economist 140 (1992), S. 65-82 
    ISSN: 1572-9982
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary This article addresses the issue of financing government spending from the viewpoint of the Ricardian equivalence theory. After a review of the literature, including a discussion of the underlying assumptions and a comparison with the Keynesian and classical views, we look for empirical evidence for The Netherlands. The empirical results correspond with the findings of many other studies: Ricardian equivalence has to be rejected, although consumers do not completely ignore the government budget constraint. We stress, however, that alternative mechanisms might also be responsible for the empirical findings.
    Type of Medium: Electronic Resource
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  • 3
    Electronic Resource
    Electronic Resource
    Springer
    De economist 141 (1993), S. 471-496 
    ISSN: 1572-9982
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary This paper presents an analysis of the demand for money in each of the single EC countries, using a uniform data set and a common economic framework. The analysis differs from other studies in two major respects. Firstly, a countrywise set-up is chosen instead of an analysis of EC aggregates and secondly, three monetary aggregates —M1, M2, andM3 — are analysed. This approach does justice to possible differences in money demand behaviour in the various countries and avoids the aggregation problem. The estimated money demand equations belong to the class of error-correction models and offer a tool for interpreting differences in monetary developments in the single EC countries. The estimation results show that in most member states the price elasticities are slightly below 1. Other remarkable results are that the demand for money in the southern EC countries is less sensitive to changes in the interest rates and the inflation rate than in the northern countries and that the demand for broadly defined money is more stable than the demand for narrow money. Stability also seems to depend on the size of the country. By weighting the estimates for the individual countries, elasticities of the demand for money of the EC as a whole are obtained, which have a plausible order of magnitude.
    Type of Medium: Electronic Resource
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  • 4
    Electronic Resource
    Electronic Resource
    Springer
    De economist 142 (1994), S. 63-74 
    ISSN: 1572-9982
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary This article examines the long-run, relationship between Dutch and German consumer prices during the period 1961–1991. Two hypotheses are examined. The first deals with the ultimate objective of the guilder-Dmark peg and the second is whether Dutch and German prices are cointegrated. Accounting for an exogenous structural changes related to the estableshment of the EMS, the empirical evidence supports both hypotheses. Moreover, the analysis indicates that two-thirds of the reduction of the structural inflation rate in the Netherlands from 6.6% during the pre-EMS period to 3.0% afterwards can be attributed to the policy shift in 1979.
    Type of Medium: Electronic Resource
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  • 5
    Electronic Resource
    Electronic Resource
    Springer
    De economist 144 (1996), S. 569-589 
    ISSN: 1572-9982
    Keywords: demand for money ; financial wealth ; narrow and broad money
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary This paper examines the impact of wealth on the demand for money in The Netherlands and Belgium. The empirical analysis reveals a substantial influence of wealth on the demand for money. For The Netherlands, incorporating wealth effects mitigates the volatility of the monetary picture. For Belgium this is not the case, indicating that interest and inflation rates are very important for understanding the monetary developments.
    Type of Medium: Electronic Resource
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  • 6
    Electronic Resource
    Electronic Resource
    Springer
    De economist 144 (1996), S. 617-633 
    ISSN: 1572-9982
    Keywords: country risk ; payment arrears ; probit model ; country rating
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Summary This article discusses the results of an emperical analysis of developing countries' creditworthiness using data for 32 countries over the sample period 1983–1993, and presents a country risk indicator on the basis of a probit model. In this model the occurrence of payment arrears is related to a set of explanatory variables, which include policy-related and global determinants, next to general macroeconomic and financial variables. The new indicator has a rank correlation of about 0.8 with often used measures provided by rating agencies. Nevertheless, several remarkable differences are present. For Mexico, for instance, our indicator points towards declining creditworthiness since 1989, whereas other ratings show Mexico's creditworthiness to be increasing steadily.
    Type of Medium: Electronic Resource
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  • 7
    ISSN: 1572-9982
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Type of Medium: Electronic Resource
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