This paper investigates the behaviour of M2 velocity in recent years with special emphasis on the post-1989 period. Unlike previous studies in this area, M2 velocity is analysed in the context of a small vector autoregressive (VAR) model which includes income, prices, interest rates, and money...

This study examines money-income causality in the United Kingdom. Unlike most previous studies, this study finds unidirectional causality running from U.K. M1 to U.K. income. Furthermore, U.S. M1 is found to cause U.K. M1 only weakly and does not cause U.K. income. These findings are...

This book contributes to our understanding of the Great Depression's immediate and long-term impacts on the American economy. Editor Mark Wheeler has gathered six scholars from a range of subdisciplines within economics who, together, offer a diverse look at the Depressions's effects on the...

A "revisionist" view of the European fertility transition has challenged the previously accepted causal roles of economic forces. The authors' contribution has been to construct and test an econometric model in which economic growth causes fertility change. They find that rising per capita...

Open economy money demand functions for Singapore are estimated using quarterly data from 1973-1996. Variance decompositions derived from structural vector error correction models are used to test the effect of anticipated exchange rate movements and exchange rate uncertainty on money demand....

This paper examines the impact that the European Union (EU) has exerted on Spanish economic activity. The empirical analysis is conducted using variance decompositions and historical decompositions derived from a near vector autoregressive (VAR) model. The near VAR includes the exchange rate,...