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within a panel cointegration framework. Besides the total net issues, we distinguish between large, medium and small euro …
Persistent link: https://www.econbiz.de/10011872942
In this paper, different Divisia monetary aggregates for the euro area are constructed over the period from 1980 to 2000. Theoretically, one main difference of these aggregates is their reaction to exchange-rate variations. Empirically, the aggregates are compared with respect to three issues....
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In this paper, different Divisia monetary aggregates for the euro area are constructed over the period from 1980 to 2000. Theoretically, one main difference of these aggregates is their reaction to exchange-rate variations. Empirically, the aggregates are compared with respect to three issues....
Persistent link: https://www.econbiz.de/10001673481
Persistent link: https://www.econbiz.de/10012991275
panel cointegration framework. Besides the traditional determinants of cash demand like transactions balances and …
Persistent link: https://www.econbiz.de/10012291866
analysis in the new Member States of the European Union (EU) is conducted using panel cointegration methods. A well …
Persistent link: https://www.econbiz.de/10013317611
We consider the fractional cointegrated vector autoregressive (CVAR) model of Johansen and Nielsen (2012a) and show that the test statistic for the ususal CVAR model is asymptotically chi-squared distributed. Because the usual CVAR model lies on the boundary of the parameter space for the...
Persistent link: https://www.econbiz.de/10011756080