Aggregate Money Demand Functions Empirical Applications in Cointegrated Systems

Name: Aggregate Money Demand Functions Empirical Applications in Cointegrated Systems
Price: 109.99 USD
Availability: InStock
ISBN: 9789401073080

ISBN-10: 9401073082

ISBN-13: 9789401073080

Edition: 1996

Authors: Dennis L. Hoffman, Robert H. Rasche

List price: $109.99

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Description:

The econometric consequences of nonstationary data have wide-ranging implications for empirical research in economics. Specifically, these issues have implications for the study of empirical relations such as a money demand function that links macroeconomic aggregates: real money balances, real income and a nominal interest rate. Traditional monetary theory predicts that these nonstationary series form a cointegrating relation and, accordingly, that the dynamics of a vector process comprising these variables generates distinct patterns. Recent econometric developments designed to cope with nonstationarities have changed the course of empirical research in the area, but many fundamental…

Book details

List price: $109.99
Copyright year: 1996
Publisher: Springer Netherlands
Publication date: 9/26/2011
Binding: Paperback
Pages: 266
Size: 6.10" wide x 9.25" long x 0.23" tall
Weight: 0.946
Language: English