Ongan, Serdar; Gocer, Ismet - In: Journal of central banking theory and practice 12 (2023) 1, pp. 249-261
This study re-investigates the money supply determination process for Japan. The methodology of this study, which … differs from previous studies, is constructed on the assumption of potential nonlinear (asymmetric) relations between money … supply and monetary base via money multiplier. To this aim, the nonlinear autoregressive distributed lag (ARDL) model by Shin …