Are there Economies of Scale in the Demand for Money by Firms? some Panel Data Estimates

Olympia Bover () and Nadine Watson

Banco de España Working Papers from Banco de España

Abstract: The purpose of this paper is to estimate elasticities of scale in the demand for money by firms using firm level panel data. In common with the recent literature, we use disaggregate data to overcome the identification problems in aggregate time series approaches. Our main dataset is a sample of Spanish companies that are observed for the period 1983-1996, although we also analyse comparable datasets for the UK and the US. As measures of scale we consider both firm sales and firm output.

Keywords: DEMAND; MONEY; WAGES; ELASTICITY; INTEREST RATE (search for similar items in EconPapers)
JEL-codes: E43 E41 (search for similar items in EconPapers)
Date: 2000
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Related works:
Working Paper: Are there Economies of Scale in the Demand for Money by Firms? Some Panel Data Estimates (2001)
Journal Article: Are there economies of scale in the demand for money by firms? Some panel data estimates (2005)
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Persistent link: http://EconPapers.repec.org/RePEc:bde:wpaper:0008

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