Nonstationary stochastic seasonality and the Germany M2 money demand function.
The writer examines nonstationary stochastic seasonality to model the German M2 money demand function using quarterly data for the period spanning 1960-96. He finds empirical evidence in favor of a stable long-run M2 money demand function relying on seasonally unadjusted data, but he points out tha...
| Publicado en: | European Economic Review Vol. 44; no. 1; pp. 61 - 71 |
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| Formato: | Artículo |
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Elsevier Science
January 2000
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| 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=512923796&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 512923796 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00142921 EER jtl: European Economic Review issn: 00142921 maglogo: N pubinfo: dt: January 2000 vid: 44 iid: 1 pid: 1004 pub: Elsevier Science artinfo: ui: 512923796 10.1016/S0014-2921(98)00068-3 ppf: 61 ppct: 10 formats: tig: atl: Nonstationary stochastic seasonality and the Germany M2 money demand function. aug: au: Bohl, Martin T. su: Demand for money Stochastic processes Economic seasonal variations Money Germany sug: subj: Germany Demand for money Stochastic processes Economic seasonal variations Money ab: The writer examines nonstationary stochastic seasonality to model the German M2 money demand function using quarterly data for the period spanning 1960-96. He finds empirical evidence in favor of a stable long-run M2 money demand function relying on seasonally unadjusted data, but he points out that it is not possible to establish a stable long-run relationship using seasonally adjusted time series. He contends that the seasonal error correction model exhibits satisfactory properties and fits the data quite well. He points out, however, that it displays parameter nonconstancy, particularly in the middle of the 1970s and at the start of the 1990s, when major monetary regime changes occurred. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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