Functional and Structural Breaks in the UK Demand for Money Function: 1963–1979
Estimates of the UK demand for money function are obtained utilising the Box‐Cox family of power transformations based on a Bank of England adjusted data set for the period 1963I — 1979IV. The functions are subjected to functional and structural stability testing with careful consideration of the resulting error structure. First‐order autocorrelation problems are encountered in the narrow money series Ml and attempts to consider a more flexible dynamic structure are investigated.
Year of publication: |
1983
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Authors: | Oxley, Leslie T. |
Published in: |
Journal of Economic Studies. - MCB UP Ltd, ISSN 1758-7387, ZDB-ID 1480042-1. - Vol. 10.1983, 3, p. 22-41
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Publisher: |
MCB UP Ltd |
Saved in:
Online Resource
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