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Unstable Velocity, Volatile Exchange Rates, And Currency Substitution: The Demand For Money In A Multicurrency World, Stephen Shawn Poloz
Unstable Velocity, Volatile Exchange Rates, And Currency Substitution: The Demand For Money In A Multicurrency World, Stephen Shawn Poloz
Digitized Theses
The thesis examines the problem of recent instability in the demand for money functions of the major OECD economies. Several clues in the literature lead to consideration of currency substitution, the presumption being that recent increases in the latter have resulted in unexpected exhange rate volatility as well as shifts in the world demand for money equations. The Thesis investigates the microeconomic foundations of the demand for money in a world where transactions occur in more than one currency, and where portfolios include foreign currency deposits. Three distinct but complementary theories are developed, each based on one of the three …
Three Essays On Applied General Equilibrium Analysis, Ahsan Habib Mansur
Three Essays On Applied General Equilibrium Analysis, Ahsan Habib Mansur
Digitized Theses
The thesis develops three essays which involve diverse issues like the estimation of the parameters of a fully specified general equilibrium model, estimation of import and export demand elasticities with some general equilibrium (GE) closure rule and formulating a decomposition algorithm for GE models with proper structure. While the questions addressed are somewhat unrelated to each other, the essays involve issues related to models which are essentially Walrasian in nature. The three essays are: (1) "On the Estimation of General Equilibrium Models;" (2) "Estimation of Import and Export Demand Elasticities and Elasticity Pessimism;" and (3) "A Dantzig-Wolfe Type Decomposition Algorithm …
Canadian Import Demand, And The Effects Of Tariffs On The Prices Of Domestic Factors, Brendan Murphy
Canadian Import Demand, And The Effects Of Tariffs On The Prices Of Domestic Factors, Brendan Murphy
Digitized Theses
Canada's demand for imports is examined using an econometric model derived from production theory. The production theory approach provides a useful framework for examining two important issues: the effects of Canada's tariff policies on wage and rental rates, and the effects of changes in the price of imports on the demand for imports.;Three important problems that arise in moving from the theoretical model of the production sector to the econometric model are examined in the empirical work: choosing a method of analysing the technology of the production sector; specifying a functional form for the technology; and specifying the speed with …
The Optimal Supply Of Bank Money: Upper Canada's Experience On And Off The Specie Standard, Angela Redish
The Optimal Supply Of Bank Money: Upper Canada's Experience On And Off The Specie Standard, Angela Redish
Digitized Theses
This thesis examines the fluctuations in the money stock of Upper Canada in the 1830s, and in doing so contradicts the existing interpretation of the monetary events, and also sheds further light on the operation of the early specie standard. The model of the monetary system used, incorporates the potential for currency substitution and expectations to affect monetary behaviour.;Banking in Upper Canada is characterized by a system of three colluding, chartered banks, which attempted to maximize profits in a small open economy. These banks were legally constrained by usury laws and the requirement that notes be redeemable in specie on …
A Two Asset Model Of Personal Taxation, Ronald Douglas Hood
A Two Asset Model Of Personal Taxation, Ronald Douglas Hood
Digitized Theses
In the work presented here, I have examined taxpayer behavior under a simple personal tax system. Taxes in this system are not based on current consumption, expenditure or income. Instead, the taxpayer is taxed on his earnings less whatever part of his savings he invests in a tax deferral portfolio. Any liquidations he makes from this portfolio becomes part of the tax base in the year they are made. Investment outside the portfolio bears tax free interest. It affords no tax deduction when acquired and can be liquidated tax free.;The essentials of this system can be captured by a two …