Hayo, Bernd - Zentrum für Europäische Integrationsforschung (ZEI), … - 2000
constructed, which contain the short-run dynamics and the long-run economic equilibrium. It is found that a stable money demand … characterised as a classical type of money demand, with no interest rate effects and a unity elasticity of real GDP. In the case of … statistical properties of the estimated short-run money demand equations – considering insample and out-of-sample (35 observations …