Purpose – The purpose of this paper is to evaluate the performance of six types of policy rules applied for Indonesia, using monthly data spanning January 1980 to December 2008. Design/methodology/approach – This paper uses deterministic simulations on a small macro model and evaluates the...

Purpose – The purpose of this paper is to evaluate the performance of six types of policy rules applied for Indonesia, using monthly data spanning January 1980 to December 2008. Design/methodology/approach – This paper uses deterministic simulations on a small macro model and evaluates the...

This paper presents estimates of the demand for money function derived from two alternative opportunity cost of holding money for the Turkish economy over the period 1988-2000. The specification of the equilibrium relationship is problematic in that real money balances are integrated of order...

This paper presents estimates of the demand for money function and the Phillips curve using quarterly data for the Mexican economy over the period 1980-1999. These estimates are used to test restrictions on the dynamic process of the errors and cross-equation parameter restrictions suggested by...