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Firm Investment Behaviour in Germany: An Explanation Based on Seasonal Cointegration Techniques.

Dreger, Christian; Brautzsch, Hans-Ulrich - In: Journal of Economics and Statistics (Jahrbuecher fuer … 219 (1999) 3+4, pp. 284-297

-seasonal adjusted data from 1968 to 1989. The empirical analysis is based on cointegration techniques using the multivariate error … investment series. Given this result, the evidence for cointegration relationships at the seasonal frequencies is rather weak …. However, the cointegration vector obtained at the long run frequency shows, that export growth has a positive influence on …

Persistent link: https://www.econbiz.de/10008596440

M3 money demand and excess liquidity in the euro area

Dreger, Christian; Wolters, Jürgen - 2010

Recent empirical studies have found evidence of unstable long run money demand functions if recent data are used. If the link between money balances and the macroeconomy is fragile, the rationale of monetary aggregates in the ECB strategy has to be doubted. In contrast we present a "stable''...

Persistent link: https://www.econbiz.de/10011518878

Money velocity and asset prices in the euro area

Dreger, Christian; Wolters, Jürgen - 2009

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

M3 money demand and excess liquidity in the euro area

Dreger, Christian; Wolters, Jürgen - 2008

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

Money velocity and asset prices in the euro area

Dreger, Christian; Wolters, Jürgen - 2008

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

Money and Inflation in the euro area during the financial crisis

Dreger, Christian; Wolters, Jürgen - 2011

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

Money and inflation in the euro area during the financial crisis

Dreger, Christian; Wolters, Jürgen - 2011

Persistent link: https://www.econbiz.de/10009130684

Money velocity and asset prices in the euro area

Dreger, Christian (contributor); … - 2008

of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth … survive a battery of specification tests. -- Cointegration analysis ; error correction ; money demand ; financial wealth …

Persistent link: https://www.econbiz.de/10003746686

Money Velocity and Asset Prices in the Euro Area

Dreger, Christian - 2009

of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …

Persistent link: https://www.econbiz.de/10013158611

Panel Seasonal Unit Root Test With An Application for Unemployment Data

Reimers, Hans-Eggert; Dreger, Christian - 2004

In this paper the seasonal unit root test of Hylleberg et al. (1990) is generalized to cover a heterogenous panel. The procedure follows the work of Im, Pesaran and Shin (2002). Test statistics are proposed and critical values are obtained by simulations. Moreover, the properties of the tests...

Persistent link: https://www.econbiz.de/10010263471