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Financial Crises and Money Demand in Jamaica
Atkins, Fiona - Birkbeck, Department of Economics, Mathematics & Statistics - 2005
This paper estimates the money demand function for Jamaica using a Structural co-integrating VAR. This approach provides estimates of the long run structural relations and also reveals the complex short run feedbacks of monetary policy on key macro variables. In recent years Jamaican governments...
Persistent link: https://www.econbiz.de/10005509604
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Changing Monetary Transmission Mechanisms within the EU.
Juselius, Katarina - Økonomisk Institut, Københavns Universitet - 1997
This paper presents a comparative analysis of monetary transmission mechanisms and changes in them after the "second ERM" in March 1983. The empirical model investigates the determination of money, income, prices and interest rates in Germany, Denmark, and Italy based on the cointegrated VAR...
Persistent link: https://www.econbiz.de/10005749822
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Modeling the Demand for Currency Issued in Turkey
Akinci, Ozge - In: Central Bank Review 3 (2003) 1, pp. 1-25
signs. Based on the cointegration and the weak exogeneity test results, single equation error correction model is specified …
Persistent link: https://www.econbiz.de/10005667146
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SPURIOUS REGRESSION AND COINTEGRATION. NUMERICAL EXAMPLE: ROMANIA’S M2 MONEY DEMAND
Ruxanda, Gheorghe; Botezatu, Andreea - In: Journal for Economic Forecasting 5 (2008) 3, pp. 51-62
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 …
Persistent link: https://www.econbiz.de/10005772652
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Exogeneity, causality, and co-breaking in economic policy analysis of a small econometric model of money in the UK
Mizon, Grayham E.; Hendry, David F. - In: Empirical Economics 23 (1998) 3, pp. 267-294
that the model be congruent and encompassing, and hence exogeneity, causality, cointegration, co-breaking, and invariance …
Persistent link: https://www.econbiz.de/10005166743
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Some new evidence on the determinants of money demand in developing countries – A case study of Tunisia
Ben Salha, Ousama; Jaidi, Zied - Volkswirtschaftliche Fakultät, … - 2013
The present paper aims at examining the money demand function in Tunisia during the period 1981-2011. Unlike previous … approach, results reveal evidence of cointegration between broad money demand and its determinants, namely final consumption … period. We conclude that monetary policy in Tunisia should be based on a broad definition of money. Furthermore, the …
Persistent link: https://www.econbiz.de/10011259415
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Money Velocity and Asset Prices in the Euro Area
Dreger, Christian; Wolters, Jürgen - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008
of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …
Persistent link: https://www.econbiz.de/10011128092
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M3 Money Demand and Excess Liquidity in the Euro Area
Dreger, Christian; Wolters, Jürgen - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008
Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find evidence in favour of a stable long run money demand function. The equation appears to be increasingly unstable if more recent data are used. If the link between money balances and...
Persistent link: https://www.econbiz.de/10011128099
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Money Velocity and Asset Prices in the Euro Area
Dreger, Christian; Wolters, Jürgen - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008
of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …
Persistent link: https://www.econbiz.de/10004963942
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M3 Money Demand and Excess Liquidity in the Euro Area
Dreger, Christian; Wolters, Jürgen - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008
Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find evidence in favour of a stable long run money demand function. The equation appears to be increasingly unstable if more recent data are used. If the link between money balances and...
Persistent link: https://www.econbiz.de/10004963949