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Lars Jonung. Photo.

Lars Jonung

Professor emeritus

Lars Jonung. Photo.

An Empirical Identification of the Swedish Money Stock

Author

  • Lars Jonung

Summary, in English

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.

Department/s

  • Department of Economics

Publishing year

1981

Language

English

Pages

68-78

Publication/Series

Scandinavian Journal of Economics

Volume

83

Issue

1

Document type

Journal article

Publisher

Wiley-Blackwell

Topic

  • Economics

Status

Published

ISBN/ISSN/Other

  • ISSN: 1467-9442