[PDF] Is There A Stable Money Demand Equation At The Community Level eBook

Author : Kieran McMorrow
Publisher :
Page : 42 pages
File Size : 39,47 MB
Release : 1998
Category : Demand for money
ISBN :

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Recoge: 1. Rationale for the Modelling Strategy Adopted in the Study - 2. Specification Issues - 3. Establishing the Time Series Properties of the Variables - 4. Cointegration Analysis: The Multivariate Approach - 5. Single equation cointegration analysis: The Engle-Granger Procedure for Estimating the Error Correction Model - 6. Evaluation of the Robustness of the Error Correction Model: Diagnostic and Stability Tests.

Author : Mr.Subramanian S. Sriram
Publisher : International Monetary Fund
Page : 78 pages
File Size : 14,22 MB
Release : 1999-05-01
Category : Business & Economics
ISBN : 1451848544

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A stable money demand forms the cornerstone in formulating and conducting monetary policy. Consequently, numerous theoretical and empirical studies have been conducted in both industrial and developing countries to evaluate the determinants and the stability of the money demand function. This paper briefly reviews the theoretical work, tracing the contributions of several researchers beginning from the classical economists, and explains relevant empirical issues in modeling and estimating money demand functions. Notably, it summarizes the salient features of a number of recent studies that applied cointegration/error-correction models in the 1990s, and it features a bibliography to aid in research on demand for money.

Author : Emmanuel Apel
Publisher : Routledge
Page : 314 pages
File Size : 32,66 MB
Release : 2003-03-20
Category : Business & Economics
ISBN : 113442017X

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This new study provides a comprehensive survey of the recently established European financial system in comparison to previous European systems and the US Federal Reserve. This well-written contribution to financial economics should be of interest to academics as well as professionals concerned with financial systems around the world.

Author : OECD
Publisher : OECD Publishing
Page : 181 pages
File Size : 19,65 MB
Release : 2000-03-29
Category :
ISBN : 9264181202

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This study assesses economic developments and policies during the inaugural year of Europe's single currency regime. It analyses the economic performance and prospects of the euro area as a whole, and highlights to what extent aggregate trends are shaped by convergence or divergence.

Author : Filip Keereman
Publisher :
Page : 56 pages
File Size : 23,95 MB
Release : 2005
Category : Economic forecasting
ISBN :

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Forecast errors are large in the recently acceded Member States and the mistakes have a similar order of magnitude in the Commission services' forecasts, Consensus Forecasts and projections made by national authorities. The prediction mistakes cannot be attributed to bias or autocorrelation. Volatility in the economic developments and data revisions creating uncertainty on the state of the economy appear the main explanation for the difficulty to make good forecasts. Prediction mistakes for GDP growth lead to wrong projections for general government balances through the operation of the automatic stabilisers, but errors in the discretionary part of the government balance are the largest source of fiscal forecast mistakes. Growth forecast errors influence fiscal policy decisions.

Author : European Commission. Directorate-General for Economic and Financial Affairs
Publisher :
Page : 188 pages
File Size : 33,5 MB
Release : 2000
Category : Currency boards
ISBN :

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This issue deals with currency board arrangements in candidate countries, showing the willingness to tackle difficult subjects pertinent to accession. It presents the papers and conclusions together with a summary of the seminar that took place in Brussels on 25 November 1999. The seminar looked at countriesœ recent experiences with currency boards and identified conditions producing success. It helped to clarify the Commission Servicesœ position with regard to currency board arrangements in candidate countries in the context of their future accession to Economic and Monetary Union and adoption of the euro.