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bivariate cointegration between domestic and foreign interest rates. We explain non-stationarity of the interest differential … stochastic trend into the system. Trivariate cointegration between the interest rates and the exchange rate accounts for the … missing stationarity property of the interest differential. We apply the concept to the case of Turkey and Europe, where we …
Persistent link: https://www.econbiz.de/10009511974
Persistent link: https://www.econbiz.de/10008811228
bivariate cointegration between domestic and foreign interest rates. We explain non-stationarity of the interest differential … stochastic trend into the system. Trivariate cointegration between the interest rates and the exchange rate accounts for the … missing stationarity property of the interest differential. We apply the concept to the case of Turkey and Europe, where we …
Persistent link: https://www.econbiz.de/10013124253
Persistent link: https://www.econbiz.de/10011712889
stability of the euro area money demand function. We also compare single equation methods like the ARDL approach, FM-OLS, CCR …
Persistent link: https://www.econbiz.de/10010208785
Persistent link: https://www.econbiz.de/10012589414
Persistent link: https://www.econbiz.de/10013368696
aggregate is considered as the nominal anchor. The stability of the money demand has been the focus of numerous debates due to …
Persistent link: https://www.econbiz.de/10011261168
We adapt the (Sidrauski, 1967) monetary model to study the hypothesis of anticipation of future consumption. We assume that anticipation of future consumption affects an agent's instantaneous utility and that all effects of future consumption on current wellbeing are captured by the stock of...
Persistent link: https://www.econbiz.de/10010686843
Traditional microeconomic approaches to money demand issues are considered in the article. The author also discusses current view of monetary theory on concept of “money”. New approach gives reasoning to existence of variety of payment innovations.
Persistent link: https://www.econbiz.de/10010658686