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Non-linear dynamics in the euro area demand for M1

Calza, Alessandro; Zaghini, Andrea - 2006

This paper investigates possible non-linearities in the dynamics of the euro area demand for the narrow aggregate M1. A long-run money demand relationship is firstly estimated over a sample period covering the last three decades. While the parameters of the relationship are jointly stable, there...

Persistent link: https://www.econbiz.de/10011604638

Common trends and common cycles among interest rates of the G7-countries

Lindenberg, Nannette; Westermann, Frank - 2009

operandi to analyze the time series characteristics of interest rates and to test for common features. We conduct cointegration …

Persistent link: https://www.econbiz.de/10010264545

Bayesian Averaging over Many Dynamic Model Structures with Evidence on the Great Ratios and Liquidity Trap Risk

Strachan, Rodney W.; van Dijk, Herman K. - 2008

A Bayesian model averaging procedure is presented that makes use of a finite mixture of many model structures within the class of vector autoregressive (VAR) processes. It is applied to two empirical issues. First, stability of the Great Ratios in U.S. macro-economic time series is investigated,...

Persistent link: https://www.econbiz.de/10010325721

Consumption and population age structure

Erlandsen, Solveig; Nymoen, Ragnar - 2004

via wealth and income are accounted for. …

Persistent link: https://www.econbiz.de/10010284297

A Stable Model for Euro Area Money Demand: Revisiting the Role of Wealth

Beyer, Andreas - 2009

In this paper we present an empirically stable money demand model for Euro area M3. We show that housing wealth is an important explanatory variable of long-run money demand that captures the trending behaviour of M3 velocity, in particular its shift in the first half of this decade. We show...

Persistent link: https://www.econbiz.de/10011605157

Monetary Policy under a Fiscal Theory of Sovereign Default

Schabert, Andreas - 2009

does not account for initial outstanding debt when it sets the income tax rate. Solvency is then not guaranteed and …

Persistent link: https://www.econbiz.de/10010325802

Různá pojetí endogenity peněz v postkeynesovské ekonomii: Reinterpretace do obecnější teorie

Lopušník, Ondřej - 2010

The theory of endogenous money supply forms one of the cornerstones of Post Keynesian economics. It has been developing …

Persistent link: https://www.econbiz.de/10010322224

Monetary overhang and the dynamics of prices, exchange rates, and income in the transition to a market economy

Hofman, Bert; Koop, Michael J. - 1990

The long road from capitalism to capitalism the Eastern European economies have made has been paved with many economic problems, but the transition from a command economy into a market economy is likely to become a bumpy ride as well. Apart from the major real economic reforms that have to take...

Persistent link: https://www.econbiz.de/10010275235

Bayesian inference in cointegrated VAR models: with applications to the demand for euro area M3

Warne, Anders - 2006

The paper considers a Bayesian approach to the cointegrated VAR model with a uniform prior on the cointegration space …. Building on earlier work by Villani (2005b), where the posterior probability of the cointegration rank can be calculated … the marginal likelihood identity is used for calculating these probabilities, a point estimator of the cointegration space …

Persistent link: https://www.econbiz.de/10011604738

Zinsgewichtete Geldmengenaggregate und wirtschaftliche Aktivität

Krämer, Jörg W. - 1994

Persistent link: https://www.econbiz.de/10010275435