Empirical modelling of money demand in periods of structural change: the case of Greece
Article Abstract:
The authors apply second-generation random coefficient modeling and vector error correction modeling to analyze money demand in Greece from 1976 to 2000. The models support the theory that the responsiveness of demand for money increases based on opportunity costs of holding money and money balance rates of return due to financial deregulation.
Publication Name: Oxford Bulletin of Economics & Statistics
Subject: Economics
ISSN: 0305-9049
Year: 2003
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Exogeneity in vector error correction models with purely exogenous long-run paths
Article Abstract:
The article examines new exogeneity results in vector error correction models using a framework founded on two long-run matrix canonical representations. A suitable basis to formulate sufficient and necessary conditions for strong exogeneity and non-causality are derived.
Publication Name: Oxford Bulletin of Economics & Statistics
Subject: Economics
ISSN: 0305-9049
Year: 2003
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Does liquidity matter? properties of a Divisia monetary aggregate in the Euro area
Article Abstract:
The details of the research conducted using econometric techniques to build Divisia monetary aggregate for the Euro area are presented. The role of liquidity services in developing monetary policies in the Euro area is also emphasized.
Publication Name: Oxford Bulletin of Economics & Statistics
Subject: Economics
ISSN: 0305-9049
Year: 2004
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