Aggregate Money Demand Functions: Empirical Applications in Cointegrated Systems
The econometric consequences of nonstationary data have wide ranging im plications for empirical research in economics. Specifically, these issues have implications for the study of empirical relations such as a money demand func tion that links macroeconomic aggregates: real money balances, real...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Dordrecht
Springer Netherlands
1996
|
| Ausgabe: | 1st ed. 1996 |
| Schlagworte: | |
| Online-Zugang: | BTU01 URL des Erstveröffentlichers |
| Zusammenfassung: | The econometric consequences of nonstationary data have wide ranging im plications for empirical research in economics. Specifically, these issues have implications for the study of empirical relations such as a money demand func tion that links macroeconomic aggregates: real money balances, real income and a nominal interest rate. Traditional monetary theory predicts that these nonsta tionary series form a cointegrating relation and accordingly, that the dynamics of a vector process comprised of these variables generates distinct patterns. Re cent econometric developments designed to cope with nonstationarities have changed the course of empirical research in the area, but many fundamental challenges, for example the issue of identification, remain. This book represents the efforts undertaken by the authors in recent years in an effort to determine the consequences that nonstationarity has for the study of aggregate money demand relations. We have brought together an empirical methodology that we find useful in conducting empirical research. Some of the work was undertaken during the authors' sabbatical periods and we wish to acknowledge the generous support of Arizona State University and Michigan State University respectively. Professor Hoffman wishes to acknowledge the support of the Fulbright-Hays Foundation that supported sabbattical research in Europe and separate support of the Council of 100 Summer Research Program at Arizona State University |
| Beschreibung: | 1 Online-Ressource (X, 266 p) |
| ISBN: | 9789400918146 |
| DOI: | 10.1007/978-94-009-1814-6 |
Internformat
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| edition | 1st ed. 1996 |
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| isbn | 9789400918146 |
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| spelling | Hoffman, Dennis L. Verfasser aut Aggregate Money Demand Functions Empirical Applications in Cointegrated Systems by Dennis L. Hoffman, Robert H. Rasche 1st ed. 1996 Dordrecht Springer Netherlands 1996 1 Online-Ressource (X, 266 p) txt rdacontent c rdamedia cr rdacarrier The econometric consequences of nonstationary data have wide ranging im plications for empirical research in economics. Specifically, these issues have implications for the study of empirical relations such as a money demand func tion that links macroeconomic aggregates: real money balances, real income and a nominal interest rate. Traditional monetary theory predicts that these nonsta tionary series form a cointegrating relation and accordingly, that the dynamics of a vector process comprised of these variables generates distinct patterns. Re cent econometric developments designed to cope with nonstationarities have changed the course of empirical research in the area, but many fundamental challenges, for example the issue of identification, remain. This book represents the efforts undertaken by the authors in recent years in an effort to determine the consequences that nonstationarity has for the study of aggregate money demand relations. We have brought together an empirical methodology that we find useful in conducting empirical research. Some of the work was undertaken during the authors' sabbatical periods and we wish to acknowledge the generous support of Arizona State University and Michigan State University respectively. Professor Hoffman wishes to acknowledge the support of the Fulbright-Hays Foundation that supported sabbattical research in Europe and separate support of the Council of 100 Summer Research Program at Arizona State University Macroeconomics/Monetary Economics//Financial Economics Econometrics Economic Theory/Quantitative Economics/Mathematical Methods Macroeconomics Economic theory Geldnachfragefunktion (DE-588)4128445-8 gnd rswk-swf Geldnachfragefunktion (DE-588)4128445-8 s DE-604 Rasche, Robert H. aut Erscheint auch als Druck-Ausgabe 9789401073080 Erscheint auch als Druck-Ausgabe 9780792397045 Erscheint auch als Druck-Ausgabe 9789400918153 https://doi.org/10.1007/978-94-009-1814-6 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Hoffman, Dennis L. Rasche, Robert H. Aggregate Money Demand Functions Empirical Applications in Cointegrated Systems Macroeconomics/Monetary Economics//Financial Economics Econometrics Economic Theory/Quantitative Economics/Mathematical Methods Macroeconomics Economic theory Geldnachfragefunktion (DE-588)4128445-8 gnd |
| subject_GND | (DE-588)4128445-8 |
| title | Aggregate Money Demand Functions Empirical Applications in Cointegrated Systems |
| title_auth | Aggregate Money Demand Functions Empirical Applications in Cointegrated Systems |
| title_exact_search | Aggregate Money Demand Functions Empirical Applications in Cointegrated Systems |
| title_exact_search_txtP | Aggregate Money Demand Functions Empirical Applications in Cointegrated Systems |
| title_full | Aggregate Money Demand Functions Empirical Applications in Cointegrated Systems by Dennis L. Hoffman, Robert H. Rasche |
| title_fullStr | Aggregate Money Demand Functions Empirical Applications in Cointegrated Systems by Dennis L. Hoffman, Robert H. Rasche |
| title_full_unstemmed | Aggregate Money Demand Functions Empirical Applications in Cointegrated Systems by Dennis L. Hoffman, Robert H. Rasche |
| title_short | Aggregate Money Demand Functions |
| title_sort | aggregate money demand functions empirical applications in cointegrated systems |
| title_sub | Empirical Applications in Cointegrated Systems |
| topic | Macroeconomics/Monetary Economics//Financial Economics Econometrics Economic Theory/Quantitative Economics/Mathematical Methods Macroeconomics Economic theory Geldnachfragefunktion (DE-588)4128445-8 gnd |
| topic_facet | Macroeconomics/Monetary Economics//Financial Economics Econometrics Economic Theory/Quantitative Economics/Mathematical Methods Macroeconomics Economic theory Geldnachfragefunktion |
| url | https://doi.org/10.1007/978-94-009-1814-6 |
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