A note on the implicit interest rate on demand deposits |
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| Authors: | Stuart D. Allen |
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| Affiliation: | University of North Carolina at Greensboro, USA |
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| Abstract: | This paper examines the significance of several estimated measures of the implicit interest rate on demand deposits in an annual demand-for-money function. The evidence demonstrates that the coefficient estimates of the implicit interest rate are not positive and statistically significant as predicted due to the scarcity of data points and the high collinearity with other opportunity cost variables. |
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