Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/259708 
Erscheinungsjahr: 
2018
Quellenangabe: 
[Journal:] Swiss Journal of Economics and Statistics [ISSN:] 2235-6282 [Volume:] 154 [Issue:] 1 [Publisher:] Springer [Place:] Heidelberg [Year:] 2018 [Pages:] 2-8
Verlag: 
Springer, Heidelberg
Zusammenfassung: 
This paper studies money demand in Switzerland under free banking before the establishment of the Swiss National Bank. We find that, in addition to income, the banks' balance-sheet-to-GDP ratio and the number of banks were important determinants of long-run money demand. The former variable also played an important role in the monetary adjustment process. We also detect a strong positive long-run impact of real income on the bank's balance-sheet-total-to-GDP ratio and a strong long-run influence of real income and the interest rate spread on the number of banks.
Schlagwörter: 
Free banking
Money demand
Monetary dynamics
Switzerland
JEL: 
E41
E42
N13
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