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We estimate the money demand function and the money supply function for Canadasimultaneously by the three-stage least squares method. The inflation gap and the output gap are incorporated in the money supply function. Real money demand is positively affected by real GDP and negatively associated with the Treasury bill rate and the nominal effecttive exchange rate. Real money supply is positively influenced by the Treasury bill rate and negatively impacted by the inflation gap and the output gap.
This paper proposed a risk assessment model
with which supervisory authorities can calculate the money laundering risk
(MLR) level of financial institutions and make comparisons among multiple
institutions. The model is based on the Analytic Hierarchy Process (AHP) and
decomposes MLR into two second-tier criteria, i.e. Inherent Risk & Control
Risk. AHP pair wise comparisons made by the experts from various fields are
processed through AHP software to get the weight of each factor. Using this
model, MLR of each financial institution could be obtained and certain comparison
among them could be carried out.