Estimation of a German money demand system - a long-run analysis | Zendy

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Estimation of a German money demand system - a long-run analysis

Author(s) -

Kirstin Hubrich

Publication year - 1999

Publication title -

empirical economics

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.605

H-Index - 56

eISSN - 1435-8921

pISSN - 0377-7332

DOI - 10.1007/s001810050045

Subject(s) - cointegration , economics , econometrics , interest rate , inflation (cosmology) , error correction model , german , multivariate statistics , monetary policy , fisher hypothesis , short run , real interest rate , macroeconomics , statistics , mathematics , history , physics , archaeology , theoretical physics

The aim of this analysis is to derive stable long-run relationships that influence theconduct and transmission process of the German monetary policy. In this context,a special emphasis is on the question whether there is a stable long-run money demandin Germany as a precondition for monetary targeting. A multivariate analysisusing seasonally unadjusted data is presented. The sample period analysed coversthe years 1979(1) to 1994(2), thereby including German reunification. The initialVAR...

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