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What Caused the 1991 Currency Crisis in India?

Saxena, Sweta Chaman - 2000

Did real overvaluation contribute to the 1991 currency crisis in India? This paper seeks an answer by constructing the equilibrium real exchange rate, using an error correction model and a technique developed by Gonzalo and Granger (1995). The results are affirmative and the evidence indicates...

Persistent link: https://www.econbiz.de/10014403497

A Cointegration Analysis of Broad Money Demand in Cameroon

Nachega, Jean-Claude - 2001

This paper applies cointegration analysis and error-correction modeling to investigate the behavior of broad money …

Persistent link: https://www.econbiz.de/10014403616

Can International Macroeconomic Models Explain Low-Frequency Movements of Real Exchange Rates?

Rabanal, Pau - 2012

Real exchange rates exhibit important low-frequency fluctuations. This makes the analysis of real exchange rates at all frequencies a more sound exercise than the typical business cycle one, which compares actual and simulated data after the Hodrick-Prescott filter is applied to both. A simple...

Persistent link: https://www.econbiz.de/10014396942

On the Stability of Money Demand in Ghana : A Bounds Testing Approach

Kovanen, Arto - 2011

This paper adopts the bounds testing procedure developed by Pesaran et al. (2001) to test the stability of the long-run money demand for Ghana. The results provide strong evidence for the presence of a stable, well-identified long-run money demand during a period of substantial changes in the...

Persistent link: https://www.econbiz.de/10014397496

Cointegration of International Stock Market Indices

Chou, Ray Yeu-Tien - 1994

In this paper, we derive evidence on the integration of international stock markets from the cointegration properties … of international stock market prices. Using the multivariate cointegration test of Johansen, we find that the set of six … subgroup analyses also indicate that the cointegration relationships have become stronger over time. This is consistent with …

Persistent link: https://www.econbiz.de/10014395829

Demand for M2 in an Emerging-Market Economy : An Error-Correction Model for Malaysia

Sriram, Subramanian S. - 1999

-economy framework. Based on the cointegration and weak-exogeneity test results, short-run dynamic error-correction models are specified …

Persistent link: https://www.econbiz.de/10014399799

Money Demand in Guyana

Egoumé-Bossogo, Philippe - 2000

This paper analyzes broad money demand (M2) in Guyana from January 1990 to September 1999; a period marked by deep transformations aimed at shifting Guyana from a centralized to a market economy. The paper develops a stable error-correction model based on a long-run cointegrating vector of money...

Persistent link: https://www.econbiz.de/10014399832

A Cointegration Model for Search Equilibrium Wage Formation

International Monetary Fund - 2004

cointegration approach. It finds that labor flows, and notably flows from outside the labor market, are important determinants of …

Persistent link: https://www.econbiz.de/10014401436

Does Fiscal Policy Matter for the Trade Account? : A Panel Cointegration Study

Nickel, Christiane - 2006

This paper analyzes the empirical relationship between fiscal policy and the trade account. Research prior to this paper did not consider that the components of private and public demand in the import demand equation exhibit different elasticities. Using pooled mean group estimation for annual...

Persistent link: https://www.econbiz.de/10014402247

Broad Money Demand and Monetary Policy in Tunisia

Treichel, Volker - 1997

The development of empirical foundations to the conduct of monetary policy in Tunisia is the central concern of this paper. Finding stable money demand functions, it broadly corroborates the choice of monetary aggregates as intermediate targets of monetary policy by the Tunisian Central Bank. It...

Persistent link: https://www.econbiz.de/10014403786