ambiguous effects w.r.t. to the impact of capital market risk as well as inflation risk, which is due to the interplay of … response to positive changes in inflation risk and capital market risk, respectively, with both effects lasting permanently. …In this article we derive a microfounded model of money demand under uncertainty built on intertemporally optimizing …

) estimation methods. To obtain the result, the short run homogeneity restriction between money and prices is relaxed. In addition … coins and banknotes. The monetary overhang and the real money gap do not indicate significant inflation pressures. The …

of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …

elasticity of money demand after 2001 is taken into account. Measures of excess liquidity do not show significant inflation …

of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …

circumstances more appropriate than the latter. What is more, they deliver results that are more in line with the economic theory …

study has employed a dynamically simulated autoregressive distributed lag (ARDL) cointegration approach, which shows a well …-specified and stable money demand in India after incorporating the inflation forecast variable as one of the essential determinants … aggregate, in the ongoing flexible inflation targeting framework, as one of the essential information or indicator variables …

cointegration analysis isperformed over the sample period 1983 Q1 and 2015 Q1 and leads to a well-identified modelcomprising real … inflation pressure at the end of the sample. Excess liquidity models turnout to outperform the autoregressive benchmark, as they …

is constructed for the German monetary sector based on M3, GNP, an inflation rate, a long-term interest rate and a short …-term rate which represents the policy variable of the DBB. Moreover, import price inflation is included as an exogenous variable …