This paper assesses the empirical merits of PcGets and Autometrics -- two recent algorithms for computer-automated model selection -- using them to improve upon Kamin and Ericsson's (1993) model of Argentine broad money demand. The selected model is an economically sensible and statistically...

This paper aims at producing forecasts of monetary aggregates which are useful in formulating monetary policy in Argentina; in particular, forecasts that allow evaluation of alternative economic scenarios, with a 5-quarter horizon and of both public and private monetary aggregates. With that aim,...

The existence of a stable money demand function is critical when designing and implementing monetary policy. This is even more relevant in the current context of Argentina where the central bank establishes targets for monetary aggregates. In turn, it is also important that such function takes...

This paper aims at producing forecasts of monetary aggregates which are useful in formulating monetary policy in Argentina; in particular, forecasts that allow evaluation of alternative economic scenarios, with a 5-quarter horizon and of both public and private monetary aggregates. With that aim,...

This paper examines, from the perspective of sovereign versus non-sovereign governments, the financial implications of the European Community's adoption of a single currency. The Euro has made traveling between countries more convenient, but there are larger problems: deteriorating public...