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Is euro area 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 …
Persistent link: https://www.econbiz.de/10010208785
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A reassessment of money demand in Nigeria
Tule, Moses K.; Okpanachi, Usman M.; Ogiji, Patricks; … - In: CBN journal of applied statistics 9 (2018) 1, pp. 47-75
This paper re-examines broad money (M2) demand and its stability in Nigeria using the Autoregressive Distributed Lag …
Persistent link: https://www.econbiz.de/10011922692
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A microfounded model of money demand under uncertainty, and its empirical validation using cointegration and rolling-window dynamic multiplier analysis
Größl, Ingrid; Tarassow, Artur - 2015
In this article we derive a microfounded model of money demand under uncertainty built on intertemporally optimizing risk-averse households. Deriving a complete solution of the optimization problem taking the intertemporal budget constraint into account leads to ambiguous effects w.r.t. to the...
Persistent link: https://www.econbiz.de/10010520781
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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
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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
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A microfounded model of money demand under uncertainty, and some empirical evidence
Größl, Ingrid; Tarassow, Artur - 2018
In this article we derive a microfounded model of money demand under uncertainty built on intertemporally optimizing risk-averse households. Deriving a complete solution of the optimization problem taking the intertemporal budget constraint into account where linearization procedures in our...
Persistent link: https://www.econbiz.de/10011790638
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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
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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
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A cointegration model of money and wealth
Assenmacher-Wesche, Katrin; Beyer, Andreas - 2020
Extending the data set used in Beyer (2009) from 2007 to 2017, we estimate I(1) and I(2) money demand models for euro area M3. We nd that the elasticities in the money demand and the real wealth relations identi ed previously in Beyer (2009) have remained remarkably stable throughout the...
Persistent link: https://www.econbiz.de/10012150128
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The long run stability of money demand in the proposed West African Monetary Union
Asongu, Simplice; Folarin, Oludele E.; Biekpe, Nicholas - 2018
. This divergence is informed by differences in cointegration, stability, short run and long term determinants, and error …This study examines the stability of money demand in the proposed West African Monetary Union (WAMU). The study uses … African States (ECOWAS). A standard money demand function is designed and estimated using a bounds testing approach to co-integration …
Persistent link: https://www.econbiz.de/10011998536