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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

Flattening of the Phillips Curve: Estimations and consequences for economic policy

Kromphardt, Jürgen; Logeay, Camille - In: European Journal of Economics and Economic Policies: … 8 (2011) 1, pp. 43-67

We test the hypothesis that the long-term Phillips curve is downward sloping and has become flatter in the last 10 to 15 years. Controlling for the most important other factors influencing the inflation rate, we estimate cointegrations and test whether a "break" in the Phillips curve can be...

Persistent link: https://www.econbiz.de/10011133384

On the Temporal Causal Relationship between Macroeconomic Variables: Empirical Evidence from India

P., Srinivasan; M., Kalaivani - Volkswirtschaftliche Fakultät, … - 2013

bounds test for cointegration, Johansen and Juselius (1990) multivariate cointegration test, Granger causality …

Persistent link: https://www.econbiz.de/10011112036

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

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

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

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

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

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

The Recent Monetary Policy and Money Demand in Japan

Miyagawa, Shigeyoshi; Morita, Yoji - Økonomisk Institut, Københavns Universitet - 2004

positive relationship with real economic activity, and money demand is still stable. We found one cointegration in the … cointegration test between money stock, real GDP, and share price in the period from 1981 through 1997. However the cointegration … has broken out when the sample period was extended beyond 1997, as the BOJ (2003) suggests. We performed the cointegration …

Persistent link: https://www.econbiz.de/10005232987