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The Demand for Stored Value Payment Instruments
Ingo, Pippow; Detlef, Schoder - EconWPA - 2002
Due to their functionality, stored value purses based on smart card technology are prominent candidates for being the dominant medium of exchange for micropayments. However, the overall prospects of these payment systems are yet ambiguous, both from the perspective of practice and monetary...
Persistent link: https://www.econbiz.de/10005134968
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ANALYZING THE RELATIONSHIP BETWEEN EONIA AND EONIASWAP RATES. A COINTEGRATION APPROACH
FAT, Codruta Maria; MUTU, Simona - In: Romanian Journal of Economics 38 (2014) 1(47), pp. 197-207
monetary policy of the European Central Bank. In order to asses this influence, we apply stationarity tests, cointegration …. Johansen cointegration test confirms the existence of long-run equilibrium relationship between Eonia and Eoniaswap rates. …
Persistent link: https://www.econbiz.de/10010901877
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Does Financial Growth lead Economic Performance in India? Causality-Cointegration using Unrestricted Vector Error Correction Models
Kamat, Manoj; Kamat, Manasvi - Volkswirtschaftliche Fakultät, … - 2007
Using contemporary models this paper explores the time-series properties of financial infrastructure and economic growth indicators to investigate the nexus between developments in financial intermediation with the economic growth for India over the 1971-2004 periods. Both over short-run and the...
Persistent link: https://www.econbiz.de/10005260232
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Do Better Capitalized Banks Lend Less? Long-Run Panel Evidence from Germany
Buch, Claudia M.; Prieto, Esteban - CESifo - 2012
between the capitalization of the banking sector and bank loans using panel cointegration models. We study the evolution of …
Persistent link: https://www.econbiz.de/10010552440
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Money demand and financial liberalization in Mexico: A cointegration approach
L. Arnaut, Javier - Volkswirtschaftliche Fakultät, … - 2008
This paper examines the long run dynamics of Mexico’s money demand using Johansen’s cointegration approach with …
Persistent link: https://www.econbiz.de/10005787175
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Natural Rate Doubts
Farmer, Roger E A - C.E.P.R. Discussion Papers - 2000
This paper provides evidence for a low frequency relationship between unemployment, inflation and the nominal interest rate. I show that in the United States from 1959.1 to 1991.3, the unemployment rate, the inflation rate and the federal funds rate can be modelled as non stationary time series...
Persistent link: https://www.econbiz.de/10005792534
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Inflation Transmission in the EMU: A Markov-Switching VECM Analysis
Thams, Andreas - Volkswirtschaftliche Fakultät, … - 2007
transmission mechanism, we first establish a long-run relationship between the five countries using cointegration methods. As …
Persistent link: https://www.econbiz.de/10005836128
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Inflation, Monetary Policy and Structural Adjustment in Zambia
Andersson, Per-Åke; Sjöö, Boo - In: Economia Internazionale / International Economics 55 (2002) 4, pp. 425-449
This paper analyses the monetary policy and its impact on the rate of inflation during the economic structural adjustment programs in Zambia during 1987 to 1993. To avoid the Lucas critique, the focus is on a sample period, 1987 to 1993, which is relevant for analysing inflation and monetary...
Persistent link: https://www.econbiz.de/10008482026
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Bayesian Prediction with a Cointegrated Vector Autoregression
Villani, Mattias - Sveriges Riksbank - 1999
vector autoregression is presented. The large degree of uncertainty in the choise of the cointegration vectors is … incorporated into the analysis through a prior distribution on the cointegration vectors which allows the forecaster to … different cointegration vectors are weighted together in an optimal way. The ideas of Litterman (1980) are adapted for the prior …
Persistent link: https://www.econbiz.de/10005190804
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Inference in Vector Autoregressive Models with an Informative Prior on the Steady State
Villani, Mattias - Sveriges Riksbank - 2005
Vector autoregressions have steadily gained in popularity since their introduction in econometrics 25 years ago. A drawback of the otherwise fairly well developed methodology is the inability to incorporate prior beliefs regarding the system's steady state in a satisfactory way. Such prior...
Persistent link: https://www.econbiz.de/10005649059