Estimation of the liquidity trap using a panel threshold model

Fangping Peng, Richard Cebula (), M. Foley and Kai Zhan

Applied Economics Letters, 2016, vol. 23, issue 16, 1134-1137

Abstract: This empirical study investigates, unlike previous studies, the presence of a liquidity trap using firm-level data. The study focuses on the case of China. A panel threshold model is employed. The empirical estimation reveals that the interest elasticity of money demand declines as the interest rate falls, a finding indicating that China has not been in a liquidity trap.

Date: 2016
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DOI: 10.1080/13504851.2015.1137544

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