Money substitutes and interest rate determination: the Australian case

Authors

  • V. ARGY

DOI:

https://doi.org/10.13133/2037-3643/11642

Keywords:

Australia, money substitutes, interest rates, liquidity

Abstract

The paper describes a test carried out to asses the significance of money substitutes in interest rate determination in Australia in the years 1953-1963. The test involved a comparison of four simple alternative hypotheses where four independent variables correspond to four alternative indices of liquidity. According to the results, the author infers that making an explicit allowance for money substitutes does not contribute to the explanation of the behaviour of the rate of interest, parallelling the results obtained from other studies.


JEL: E42, E43

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Published

2014-02-19

How to Cite

ARGY, V. (2014). Money substitutes and interest rate determination: the Australian case. PSL Quarterly Review, 19(76). https://doi.org/10.13133/2037-3643/11642

Issue

Vol. 19 No. 76 (1966)

Section

Editorial

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