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This paper analyzes the recently documented instability of money demand in the euro area in the framework of a Markov switching trend model. First, we consider a standard flexible price model with stable money demand, rational expectations, and an exogenous income-money ratio which follows a...
Persistent link: https://www.econbiz.de/10011570250
The paper considers a Bayesian approach to the cointegrated VAR model with a uniform prior on the cointegration space. Building on earlier work by Villani (2005b), where the posterior probability of the cointegration rank can be calculated conditional on the lag order, the current paper also...
Persistent link: https://www.econbiz.de/10011604738
The paper considers a Bayesian approach to the cointegrated VAR model with a uniform prior on the cointegration space. Building on earlier work by Villani (2005b), where the posterior probability of the cointegration rank can be calculated conditional on the lag order, the current paper also...
Persistent link: https://www.econbiz.de/10013317369
Das vorliegende Papier beschäftigt sich mit der Frage, wie viele ausländische Euro-Münzenpro Tag in ein Euro-Land einströmen. Dafür formulieren wir ein kleines formalmathematischesModell, das wir für den Fall Deutschlands und 1-Euro-Münzen kalibrieren.Die Einführung der Euro-Münzen 2002...
Persistent link: https://www.econbiz.de/10005866103
This study discusses the effects of the Automated Teller Machine (ATM) network market structure on the availability of cash withdrawal ATM services and cash usage.The aim and novelty of the study is to construct the ATM equation.The study also contributes to the earlier discussion on the effects...
Persistent link: https://www.econbiz.de/10012148902
platforms in Europe between 2009 and 2014. By incorporating a descriptive statistics analysis, we discover the post …
Persistent link: https://www.econbiz.de/10013030990
This paper analyzes the recently documented instability of money demand in the euro area in the framework of a Markov switching trend model. First, we consider a standard °exible price model with stable money demand, rational expectations, and an exogenous income-money ratio which follows a...
Persistent link: https://www.econbiz.de/10011390594
This paper analyzes the recently documented instability of money demand in the euro area in the framework of a Markov switching trend model. First, we consider a standard flexible price model with stable money demand, rational expectations, and an exogenous income-money ratio which follows a...
Persistent link: https://www.econbiz.de/10013370048
This paper analyzes the recently documented instability of money demand in theeuro area in the framework of a Markov switching trend model. First, we consider astandard °exible price model with stable money demand, rational expectations, andan exogenous income-money ratio which follows a Markov...
Persistent link: https://www.econbiz.de/10009025017
This paper analyzes the recently documented instability of money demand in the euro area in the framework of a Markov switching trend model. First, we consider a standard flexible price model with stable money demand, rational expectations, and an exogenous income-money ratio which follows a...
Persistent link: https://www.econbiz.de/10005839488