Stability of the money demand function in Germany
This paper empirically analyses the stability of the money demand function in Germany. Important results may be summarized as follows. There was a stable relationship between money supply and real economic activity, and the money demand function was stable prior to German re-unification. The stability of money demand tends to be rejected, however, when the sample period is extended to cover German re-unification. When the stability of parameters was checked to confirm the occurrence of a structural change, it is evident that such a change did occur around 1990.
Year of publication: |
1999
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Authors: | Hamori, Naoko ; Hamori, Shigeyuki |
Published in: |
Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 6.1999, 5, p. 329-332
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Publisher: |
Taylor & Francis Journals |
Saved in:
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