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The Demand for Money: Theoretical and Empirical Approaches 2nd Edition by Apostolos Serletis This book provides an account of the existing literature on the demand for money. It shows how the money demand function fits into static and dynamic macroeconomic analyses and discusses the problem of the definition (aggregation) of money. Professor Serletis takes a microeconomic- and aggregation-theoretic approach to the demand for money, presents empirical evidence using recent state-of-the-art econometric methodology, and recognizes the existence of unsolved problems and the need for further developments. New to this Edition increased coverage of theoretical and empirical approaches to the demand for money, including a new chapter on cross-country evidence a new chapter on money demand issues and estimation of the welfare cost of inflation using tools from public finance and applied microeconomics a new chapter on rational expectations macroeconomics and issues such as the Lucas critique, rules versus discretion, and time inconsistency increased coverage of the univariate and multivariate properties of the money demand variables, nonlinear chaotic dynamics, and self-organized criticality revised coverage of monetary asset demand systems based on locally and globally flexible functional forms increased coverage of the econometrics of demand systems highlighting the challenge inherent with achieving both economic and econometric regularity "This new edition of The Demand for Money contains the tools and the direction needed for future productive advances in monetary economics. There is no clearer or more comprehensive road map to the field's "high road" research." -William A. Barnett, Oswald Distinguished Professor of Macroeconomics, University of Kansas, and Editor of the journal, Macroeconomic Dynamics "The second edition contains new theoretical and empirical results on the theory of the demand for money. Serletis expands on the base that he created in his first edition. New results on the estimation of flexible monetary asset demand systems are included in this edition as well as new time series econometric techniques. This book is a significant contribution to macroeconomics, and provides a basis for graduate students from which they can start their own research." -Melvin J. Hinich, Department of Government & Department of Economics, The University of Texas at Austin.

Macroeconomics. --- Economic policy. --- Economic theory. --- Business. --- Macroeconomics/Monetary Economics//Financial Economics. --- Economic Policy. --- Economic Theory/Quantitative Economics/Mathematical Methods. --- Business and Management, general. --- Trade --- Economics --- Management --- Commerce --- Industrial management --- Economic theory --- Political economy --- Social sciences --- Economic man --- Economic nationalism --- Economic planning --- National planning --- State planning --- Planning --- National security --- Social policy --- Management science. --- Quantitative business analysis --- Problem solving --- Operations research --- Statistical decision --- Demand for money. --- Monetary policy.

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Interfuel substitution is an issue that is - and will likely remain - an important topic of inquiry for many years, as governments around the world seek to set policies that are intended to restrain carbon emissions or steer economies toward or away from certain fuels. This book contributes to this issue by estimating short- and long-term interfuel substitution elasticities, at the aggregate and sector levels, through the use of the latest advances in microeconometrics as well as recent international data for a number of OECD and non-OECD countries.

Fuel switching. --- Alternate fuel --- Alternative fuel --- Fuel interchangeability --- Fuel substitution --- Interchangeability of fuels --- Substitution of fuels --- Switching of fuels --- Substitute products --- Energy transition --- Alternative fuels

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Macroeconomics --- Quantitative methods (economics) --- macro-economie --- econometrie

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Bringing together leading-edge research and innovative energy markets econometrics, this book collects the author's most important recent contributions in energy economics. In particular, the book:. applies recent advances in the field of applied econometrics to investigate a number of issues regarding energy markets, including the theory of storage and the efficient markets hypothesis. presents the basic stylized facts on energy price movements using correlation analysis, causality tests, integration theory, cointegration theory, as well as recently developed procedures for testing for sh

Energy industries --- Econometric models.