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of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …
Persistent link: https://www.econbiz.de/10011518893
In this article we derive a microfounded model of money demand under uncertainty built on intertemporally optimizing risk-averse households. Deriving a complete solution of the optimization problem taking the intertemporal budget constraint into account where linearization procedures in our...
Persistent link: https://www.econbiz.de/10011790638
A small macroeconomic model is constructed to study the transmission of the monetary policy conducted by the Deutsche Bundesbank (DBB) since the middle of the 1970s. For this purpose quarterly, seasonally unadjusted data for the period from 1975 to 1998 are used, that is, the period until the...
Persistent link: https://www.econbiz.de/10011400913
Money growth in the euro area has exceeded its target since 2001. Likewise, recent empirical studies did not find evidence in favour of a stable long run money demand function. The equation appears to be increasingly unstable if more recent data are used. If the link between money balances and...
Persistent link: https://www.econbiz.de/10011384239
of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …
Persistent link: https://www.econbiz.de/10011384244
Persistent link: https://www.econbiz.de/10010192380
Persistent link: https://www.econbiz.de/10010528501
This study provides empirical estimates for new residential homes demand function in Turkey using the time series data … for the period 1964â2004. An aggregate demand function for new private dwellings in Turkey is formed and is estimated … using bounds testing cointegration procedure proposed by Pesaran et al. (2001) to compute the short and long …
Persistent link: https://www.econbiz.de/10005753862
This study provides empirical estimates for new residential homes demand function in Turkey using the time series data … for the period 1964–2004. An aggregate demand function for new private dwellings in Turkey is formed and is estimated … using bounds testing cointegration procedure proposed by Pesaran et al. (2001) to compute the short and long …
Persistent link: https://www.econbiz.de/10008538866
Persistent link: https://www.econbiz.de/10012059675