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Johansen cointegration technique and quarterly data for the period 1988:1-2002:2. This paper finds, inter alia, that the demand …
Persistent link: https://www.econbiz.de/10014066001
cointegration and error correction modelling (ECM) approach. The results show that the demand for real money is a function of real …
Persistent link: https://www.econbiz.de/10014072258
Republic of Macedonia using monthly data from January 2005 to October 2012. The Johansen cointegration technique and VECM model …
Persistent link: https://www.econbiz.de/10013079785
analysis in the new Member States of the European Union (EU) is conducted using panel cointegration methods. A well …
Persistent link: https://www.econbiz.de/10013317611
This paper analyses currency in circulation in the euro area since the beginning of the 1980s. After a literature review we present some stylised facts on currency holdings in the euro area countries as well as at an aggregate euro area level. The next chapter develops a theoretical model, which...
Persistent link: https://www.econbiz.de/10013319386
Persistent link: https://www.econbiz.de/10013436034
Ökonometrische Studien weisen zunehmend auf Instabilitäten in der Geldnachfrage hin. Ein solcher Befund stellt die … einer Standardspezifikation der Geldnachfrage durchaus gerechtfertigt werden kann. Wesentlich für dieses Ergebnis ist die …
Persistent link: https://www.econbiz.de/10010377814
cointegration methods. In contrast to the bulk of the literature, evidence in favour of a stable long run money demand function is …
Persistent link: https://www.econbiz.de/10013052325
Does the federal funds rate respond to shocks when aggregate reserves are in the trillions of dollars? Has banks' demand for reserves moved over time? We provide a structural time-varying estimate of the slope of the reserve demand curve over 2010-21. We estimate a time-varying vector...
Persistent link: https://www.econbiz.de/10013257201
This paper investigates how the identification assumptions of monetary policy shocks modify the inference in a standard DSGE model. Considering SVAR models in which either the interest rate is predetermined for money or these two monetary variables are simultaneously determined, two DSGE models...
Persistent link: https://www.econbiz.de/10013137337