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Unconventional monetary policy and money demand
Dreger, Christian; Wolters, Jürgen - 2014
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/10010358869
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Is euro area money demand (still) stable? : cointegrated VAR versus single equation techniques
Belke, Ansgar; Czudaj, Robert - 2010
stability of the euro area money demand function. We also compare single equation methods like the ARDL approach, FM-OLS, CCR … applied for this purpose in previous studies. -- ARDL model ; cointegration ; euro area ; financial crisis ; money demand …
Persistent link: https://www.econbiz.de/10003939738
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Money and Inflation in the euro area during the financial crisis
Dreger, Christian; Wolters, Jürgen - 2011
This paper explores the stability of the relation between money demand for M3 and inflation in the euro area by … including the recent period of the financial crisis. Evidence is based on a cointegration analysis, where inflation and asset … demand equation is sufficient, at least as a rough indication. -- Money demand ; inflation ; excess liquidity ; cointegration …
Persistent link: https://www.econbiz.de/10009427840
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Money demand and the role of monetary indicators in forecasting euro area inflation
Dreger, Christian; Wolters, Jürgen - 2010
This paper examines the forecasting performance of a broad monetary aggregate (M3) in predicting euro area inflation. Excess liquidity is measured as the difference between the actual money stock and its fundamental value, the latter determined by a money demand function. The out-of sample...
Persistent link: https://www.econbiz.de/10009267841
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Money demand in Europe : evidence from the past
Hahn, Elke; Müller, Christian - 2000
-variate time series modelling using aggregated data of all eleven European Monetary Union member states. A cointegration analysis …
Persistent link: https://www.econbiz.de/10011432808
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Stability of the demand for real narrow money in lndonesia
Anglingkusumo, Reza - 2005
The stability of the demand for real Ml in Indonesia is empirically examinedusing quarterly data between 1981 and 2002 …
Persistent link: https://www.econbiz.de/10011343266
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Banks, money, and the zero lower bound on deposit rates
Kumhof, Michael; Wang, Xuan - 2020
We develop a New Keynesian model where all payments between agents require bank deposits through deposits-in-advance constraints, bank deposits are created through disbursement of bank loans, and banks face a convex lending cost. At the zero lower bound on deposit rates (ZLBD), changes in policy...
Persistent link: https://www.econbiz.de/10012262361
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Re-vitalizing money demand in the euro area : still valid at the zero lower bound
Dreger, Christian; Gerdesmeier, Dieter; Roffia, Barbara - 2016
paper re-investigates the stability properties of M3 demandin the euro area in the light of the recent economic crisis. A … cointegration analysis isperformed over the sample period 1983 Q1 and 2015 Q1 and leads to a well-identified modelcomprising real …
Persistent link: https://www.econbiz.de/10011532681
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Inflation stabilization, fiscal deficits and public debt management in Poland
Wijnbergen, Sweder van; Budina, Nina - 1999
Poland edged towards hyperinflation towards the latter half of 1989,but inflation fell dramatically after drastic reformswere enacted in January of 1990. We analyse the consistency betweenfiscal deficits and inflation targets and assess Poland's domestic and foreign debt management policies and...
Persistent link: https://www.econbiz.de/10011301167
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Bias correction in the dynamic panel data model with a nonscalar disturbance covariance matrix
Bun, Maurice J. G. - 2001
Approximation formulae are developed for the bias of ordinary andgeneralized Least Squares Dummy Variable (LSDV) estimators in dynamicpanel data models. Results from Kiviet (1995, 1999) are extended tohigher-order dynamic panel data models with general covariancestructure. The focus is on...
Persistent link: https://www.econbiz.de/10011313930