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 hypothesized through economics theory. But some structural break...