Sufficient cointegration and Wald tests of the monetary transmission mechanism
This letter re-examines the role of commercial loans versus demand deposits in the monetary transmission mechanism using short-run and long-run sequential causality testing procedures designed by Toda and Phillips. Empirical results support the credit view that bank loans are as good a predictor of income as demand deposits.
Year of publication: |
1999
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Authors: | Rossiter, R. D. ; Jung, Chulho |
Published in: |
Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 6.1999, 8, p. 501-503
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Publisher: |
Taylor & Francis Journals |
Saved in:
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