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Reassessing The Stability of Broad Money Demand in Malaysia
Majid, Muhd-Zulkhibri Abdul - EconWPA - 2004
This paper re-examines the money demand in Malaysia covering the period from 1974 to 2001, a period characterised by … targeting framework in Malaysia seems to be appropriate at least in the 1990s and monetary aggregate continue to be a useful …
Persistent link: https://www.econbiz.de/10005126116
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Bayesian Vars; A Survey of the Recent Literature with An Application to the European Monetary System
Ciccarelli, Matteo; Rebucci, Alessandro - International Monetary Fund (IMF) - 2003
This paper reviews recent advances in the specification and estimation of Bayesian Vector Autoregressive models (BVARs …). After describing the Bayesian principle of estimation, we first present the methodology originally developed by Litterman … issues in forecasting and structural analysis. An application to the estimation of a system of time-varying reaction …
Persistent link: https://www.econbiz.de/10005825693
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Do Stock Prices Play a Significant Role in Formulating Monetary Policy? A Case Study
Masih, Mansur; De Mello, Lurion - In: Economia Internazionale / International Economics 62 (2009) 2, pp. 203-232
prices) to a rigorous econometric scrutiny. The methods applied extend the well established cointegration and error …
Persistent link: https://www.econbiz.de/10004981530
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Efectos de los cambios de la política monetaria en las dinámicas del tipo de cambio, el dinero y los precios en México (1945-2000)
Díaz, Garcés; Guillermo, Daniel - In: El Trimestre Económico LXXV (3) (2008) 299, pp. 683-713
This paper shows that an economic policy change in 1982 brought about a conspicuous alteration in the relationship between money, prices and the exchange rate in Mexico. Before that year, the long-run demand for currency was the velocity equation, and inflation was driven mainly by the money...
Persistent link: https://www.econbiz.de/10005009905
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Money Demand in Latvia
Tillers, Ivars - Latvijas Banka - 2004
The econometric analysis of the demand for broad money in Latvia suggests a stable relationship of money demand. The analysis of parameter exogeneity indicates that the equilibrium adjustment is driven solely by the changes in the amount of money. The demand for money in Latvia is characterised...
Persistent link: https://www.econbiz.de/10005012865
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The demand for M3 in the euro area
Coenen, Günter; Vega, Juan Luis - European Central Bank - 1999
In this paper, an empirically stable money demand model for M3 in the euro area is constructed. Starting with a multivariate system, three cointegrating relationships with economic content are found: (i) the spread between the long- and the short-term nominal interest rates, (ii) the long-term...
Persistent link: https://www.econbiz.de/10005162897
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Empirical modeling of money demand
Ericsson, Neil R. - In: Empirical Economics 23 (1998) 3, pp. 295-315
theory, data measurement, parameter constancy, the opportunity cost of holding money, cointegration, model specification …
Persistent link: https://www.econbiz.de/10005166656
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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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The Money Demand Behaviour in Bangladesh, 1973-2003: An Application of the Cointegration and Error-Correction Methods
Hossain, Akhtar - In: Indian Economic Review 41 (2006) July, pp. 55-80
By applying the methods of cointegration and error-correction, this paper investigates the money demand behaviour in …
Persistent link: https://www.econbiz.de/10005168521
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MULTIRANK COINTEGRATION ANALYSIS OF TURKISH M1 MONEY DEMAND (1987Q1-2006Q3)
KORAP, H. LEVENT - In: Istanbul University Econometrics and Statistics e-Journal 6 (2007) 1, pp. 1-28
In our paper, we employ multivariate cointegration analysis to the Turkish M1 narrow money demand. The ex …-post estimation results reveal that it is possible to identify a money demand vector in the cointegrating space as a priori …
Persistent link: https://www.econbiz.de/10005112848