Advertisement

Atlantic Economic Journal

, Volume 26, Issue 3, pp 252–258 | Cite as

Modeling the currency issue

  • Jerry Mushin
Articles
  • 74 Downloads

Abstract

This paper, which includes a critique of an article that appeared in the [New Zealand]Reserve Bank Bulletin, considers the difficulties of building a forecasting model of the optimum structure of the currency (that is, notes and coins) in circulation. The reviewed model leads to predictions that are not consistent with recent experience and there are theoretical objections to the specification of both the independent and the dependent varibles. Alternative approaches are explored, but the conclusion is that this aspect of money is probably not amenable to mathematical modeling.

Keywords

Mathematical Modeling International Economic Public Finance Recent Experience Forecast Model 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Bank of England Quarterly Bulletin. “The Monetary Base: A Statistical Note,” 21, 1, March 1981, pp. 59–61.Google Scholar
  2. Barry, John. “Currency Trends and Developments,”Reserve Bank Bulletin, 57, 4, December 1994, pp. 350–5.Google Scholar
  3. The Economist. “Italy's Funny Money,” November 15, 1975, p. 100.Google Scholar
  4. Ledingham, Peter. “Pre-Paid Cards,”Reserve Bank Bulletin, 57, 4, December 1994, pp. 346–9.Google Scholar
  5. Mushin, Jerry. “Twentieth-Century Currency Reforms: A Comment,”Kyklos, 50, 2, June 1997, pp. 247–50.CrossRefGoogle Scholar
  6. __. “Non-Symmetry in the European Monetary System,”British Review of Economic Issues, 8, 2, November 1986, pp. 85–8.Google Scholar
  7. __. “The Irish Pound: Recent Developments,”Atlantic Economic Journal, 8, 4, December 1980, p. 100.CrossRefGoogle Scholar
  8. Payne, L. C.; Morgan, H. M. “UK Currency Needs in the 1980s,”The Banker, 131, 4, April 1981, pp. 45–53.Google Scholar
  9. Report of the Committee of Enquiry on Decimal Currency (The Halsbury Report), London, United Kingdom: Her Majesty's Stationery Office: 1963, ch. 11 (pp. 91–110), Appendix 3 (pp. 189–94), Appendix 11 (p. 235).Google Scholar
  10. Reserve Bank Bulletin. 61, 1, March 1998, Table C2, p. 26.Google Scholar
  11. __. “The Functions of the Reserve Bank,” 48, 9, September 1985, pp. 512–18.Google Scholar

Copyright information

© International Atlantic Economic Society 1998

Authors and Affiliations

  • Jerry Mushin
    • 1
  1. 1.Victoria University of WellingtonNew Zealand

Personalised recommendations