TY - JOUR AU - ARGY, V. PY - 2014/02/19 Y2 - 2024/03/29 TI - Money substitutes and interest rate determination: the Australian case JF - PSL Quarterly Review JA - PSL QR VL - 19 IS - 76 SE - Editorial DO - 10.13133/2037-3643/11642 UR - https://rosa.uniroma1.it/rosa04/psl_quarterly_review/article/view/11642 SP - AB - <!--[if gte mso 9]><xml> <o:OfficeDocumentSettings> <o:PixelsPerInch>72</o:PixelsPerInch> <o:TargetScreenSize>1024x768</o:TargetScreenSize> </o:OfficeDocumentSettings> </xml><![endif]--><p class="Default" style="text-align: justify;"><span style="font-size: 12.0pt;" lang="EN-US">The paper describes a test carried out to asses the significance of money substitutes in interest rate determination in </span><span style="font-size: 12.0pt;" lang="EN-US">Australia</span><span style="font-size: 12.0pt;" lang="EN-US"> 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.</span></p><p class="Default" style="text-align: justify;"><span style="font-size: 12.0pt;" lang="EN-US"><br /></span></p><p class="Default" style="text-align: justify;"><span style="font-size: 12.0pt;" lang="EN-US">JEL: E42, E43</span></p><!--[if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:HyphenationZone>14</w:HyphenationZone> <w:Compatibility> <w:BreakWrappedTables /> <w:SnapToGridInCell /> <w:WrapTextWithPunct /> <w:UseAsianBreakRules /> </w:Compatibility> <w:DoNotOptimizeForBrowser /> </w:WordDocument> </xml><![endif]--><!--[if !mso]><object classid="clsid:38481807-CA0E-42D2-BF39-B33AF135CC4D" id=ieooui></object> <style>st1\:*{behavior:url(#ieooui) }</style> <![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Tabella normale"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0pt 5.4pt 0pt 5.4pt; mso-para-margin:0pt; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman";}</style> <![endif]--> ER -