Fractional Cointegration and Aggregate Money Demand Functions.
A study was conducted to explore aggregate money demand relationships in Canada, Germany, Japan, the U.S., and Britain by way of a two-step strategy for testing the null hypothesis of no conintegration against alternatives that are fractionally cointegrated. Findings revealed that the null hypothes...
| Publicado en: | Manchester School (14636786) Vol. 73; no. 6; pp. 737 - 754 |
|---|---|
| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
December 2005
|
| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=511279643&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 511279643 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 14636786 MSE jtl: Manchester School (14636786) issn: 14636786 maglogo: N pubinfo: dt: December 2005 vid: 73 iid: 6 pid: 480 pub: Wiley-Blackwell artinfo: ui: 511279643 10.1111/j.1467-9957.2005.00475.x ppf: 737 ppct: 17 formats: tig: atl: Fractional Cointegration and Aggregate Money Demand Functions. aug: au: Caporale, Guglielmo Maria Gil-Alana, Luis A. su: Demand for money Mathematical models of economics sug: subj: Demand for money Mathematical models of economics ab: A study was conducted to explore aggregate money demand relationships in Canada, Germany, Japan, the U.S., and Britain by way of a two-step strategy for testing the null hypothesis of no conintegration against alternatives that are fractionally cointegrated. Findings revealed that the null hypothesis could not be rejected for Japan but that there was some evidence of fractional cointegration for Canada, Germany, the U.S., and Britain, where, however, the negative income elasticity detected is not theory-consistent. Findings implied that money targeting could serve as an appropriate policy framework for monetary authorities in Canada, Germany, and the U.S. but not for authorities in Japan or Britain. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
|---|