The paper estimates both long-run reserves and long-run money demand equations using the multivariate cointegration approach. An economic model is constructed, based on the monetary approach to balance of payments in which the monetary authorities can control money supply through changes in bank...

The objectives of this paper are to study the impact of liberalisation on trade deficits and current accounts of developing countries. It is expected that trade liberalisation would promote economic growth from the supply side by leading to a more efficient use of resources, by encouraging...

This paper studies whether population migration data can be used to answer questions on labour mobility between regions. Using regional data of the Statistisches Bundesamt for population and labour migration, panel data estimations are conducted for the period 1993-1995, as the high average...

It is now widely known that most economic time series of nominal and real exchange rates, money supplies, nominal and real interest rates, price levels and annual rates of inflation possess the property of unit root non-stationarity (stochastic trends). The objective of this paper is to consider...