This paper performs a system cointegration analysis of UK money demand based on real money, real income, the … opportunity cost of holding money, and inflation for the period 1873 - 2001. As a novelty we account for the effect of the world … link from excess money to inflation. The long-run structures are reasonably stable, although the information in the data is …

prices (long-run cointegration relationship), which follows the assumptions of the P-star inflation model. The results also … during the transition period. The study makes use of the monetary inflation model known as the P-star model, originally … cointegration, developed by Hylleberg, Engle, Granger and You in the beginning of 90-ties. The main hypothesis has been verified …

The article investigates the determinants of consumer price inflation in China. While inflation has been entirely …

equation, and inflation was driven mainly by the money gap. After a striking changeover, from 1983 until 2000 the demand for … currency took a very different form, and inflation was determined by the markup without an explicit effect from money. However …

appropriate lag order and test for cointegration by means of the Bartlett corrected trace test. I estimate the long-run money … and check the stability of the resulting cointegration relationships. …

problem of spurious regression. When existent, cointegration is the simplest way of eliminating the illogical correlation … established between time series due to the presence of trends. The analysis of macroeconomic time series through cointegration is … a common fact. Modelling the Romanian M2 money demand through cointegration and vector error correction led to somewhat …