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Dreger, Christian; Wolters, Jürgen - In: Vierteljahrshefte zur Wirtschaftsforschung 76 (2007) 4, pp. 85-95

Ökonometrische Studien weisen zunehmend auf Instabilitäten in der Geldnachfrage hin. Ein solcher Befund stellt die … einer Standardspezifikation der Geldnachfrage durchaus gerechtfertigt werden kann. Wesentlich für dieses Ergebnis ist die …

Persistent link: https://www.econbiz.de/10010377814

Money demand and the role of monetary indicators in forecasting euro area inflation

Dreger, Christian; Wolters, Jürgen - 2010

This paper examines the forecasting performance of a broad monetary aggregate (M3) in predicting euro area inflation. Excess liquidity is measured as the difference between the actual money stock and its fundamental value, the latter determined by a money demand function. The out-of sample...

Persistent link: https://www.econbiz.de/10010285775

Two exercises of inflation modelling and forecasting for Azerbaijan

Chubrik, Alexander; Hajiyeva, Gulnar; Woźniak, Przemysław - 2012

The paper proposes two econometric models of inflation for Azerbaijan: one based on monthly data and eclectic, another based on quarterly data and takes into account disequilibrium at the money market. Inflation regression based on monthly data showed that consumer prices dynamics is explained...

Persistent link: https://www.econbiz.de/10011430889

Money and inflation in the euro area during the financial crisis

Dreger, Christian; Wolters, Jürgen - 2011

including the recent period of the financial crisis. Evidence is based on a cointegration analysis, where inflation and asset …

Persistent link: https://www.econbiz.de/10010304804

Money and Inflation in the euro area during the financial crisis

Dreger, Christian; Wolters, Jürgen - 2011

including the recent period of the financial crisis. Evidence is based on a cointegration analysis, where inflation and asset …

Persistent link: https://www.econbiz.de/10010286288

Stability of the Demand for Real Narrow Money in lndonesia

Anglingkusumo, Reza - 2005

The stability of the demand for real Ml in Indonesia is empirically examinedusing quarterly data between 1981 and 2002. A cointegrated VAR methodology thatisolates the period of structural breaks in the data generating process of the variables,caused by the Asian crisis, is used. The results...

Persistent link: https://www.econbiz.de/10010325601

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

Money Demand Stability and Inflation Prediction in the Four Largest EMU Countries

Carstensen, Kai; Hagen, Jan; Hossfeld, Oliver; Salazar … - 2008

In this paper we analyze the money demand functions of the four largest EMU countriesand of the four-country (EMU-4) aggregate. We identify reasonable and stable moneydemand relationships for Germany, France and Spain as well as the EMU-4 aggregate.For the case of Italy, results are less clear....

Persistent link: https://www.econbiz.de/10010312123

Money demand stability and inflation prediction in the four largest EMU countries

Carstensen, Kai; Hagen, Jan; Hossfeld, Oliver; Salazar … - 2008

In this paper we analyze the money demand functions of the four largest EMU countries and of the four-country (EMU-4) aggregate. We identify reasonable and stable money demand relationships for Germany, France and Spain as well as the EMU-4 aggregate. For the case of Italy, results are less...

Persistent link: https://www.econbiz.de/10010263515

Analysing Divisia Aggregates for the Euro Area

Reimers, Hans-Eggert - 2002

es erhebliche Kontrollfehler. Zusammenfassend unterstützt die Studie die Auffassung, dass die Geldmenge eine wichtige … Rolle bei der Durchführung der Geldpolitik im Eurowährungsraum haben sollte. …

Persistent link: https://www.econbiz.de/10010295730