عنوان

Money demand in Europe :

3790800643

9783790800647

b545500

Money demand in Europe :

[Book]

an empirical approach

Christian Müller

Heidelberg ; New York

Physica-Verlag

©2003

xiii, 240 s. : illustrations ; 24 cm

Contributions to economics

1 Introduction.- 2 Economic and Econometric Concepts.- 2.1 Introduction.- 2.2 Economics of the Demand for Money.- 2.2.1 A Specific-to-General Approach.- 2.2.2 Economic Theory and Implications for Empirical Applications.- 2.3 System Analysis of Money Demand Functions.- 2.3.1 Choice of Variables.- 2.3.2 The Statistical Model, the Long-and Short-run.- 2.3.3 Economic Relationships & Cointegration Hypotheses.- 2.3.4 Efficient Estimation and Weak Exogeneity.- 2.3.5 Identification Issues.- 2.4 Summary. Econometric Analysis and Economic Interpretation.- 3 Unit Root Tests for Time Series with a Structural Break.- 3.1 Introduction.- 3.2 Models for Time Series with Level Shifts.- 3.2.1 Estimation of Nuisance Parameters.- 3.3 The Test Statistics.- 3.4 Flexible Shifts, Computational Issues and Extensions.- 3.4.1 Model Checking.- 3.4.2 Extensions.- 3.5 Examples.- 3.5.1 Data Description.- 3.5.2 Estimation of the Break Points.- 3.5.3 Graphical Analysis.- 3.5.4 Test Statistics and Test Decisions.- 3.6 Conclusions.- 3.A Figures.- 4 Monetary Policy in France Prior to European Monetary Union.- 4.1 Introduction.- 4.2 Preparing for the Euro: Implications for Money Demand Analysis.- 4.2.1 Brief Summary of the Events.- 4.2.2 An Economic Point of View.- 4.2.3 A Small Econometric Study.- 4.2.4 Comparison of Two Econometric Models of the CIP.- 4.2.5 CIP Analysis: Concluding Remarks.- 4.3 Money Supply in France Prior to EMU.- 4.3.1 On French Money Demand.- 4.3.2 Data and Model.- 4.3.3 Estimation of the Long-run Parameters.- 4.3.4 Determination of the Cointegration Matrix.- 4.3.5 Stability Analysis.- 4.3.6 Comparing Model Alternatives.- 4.3.7 Economic Interpretation.- 4.4 Summary and Conclusion.- 4.A Data, Tables and Figures.- 5 Money Demand in Europe: Evidence from the Past.- 5.1 Introduction.- 5.2 Preliminary Considerations.- 5.2.1 Problems Related to Aggregation.- 5.2.2 Interpretation Problems.- 5.3 Constructing European Data.- 5.4 Cointegration Analysis.- 5.4.1 Uni-variate and Multi-variate Data Properties.- 5.4.2 Identification of Cointegration Vectors.- 5.4.3 Properties of the Long-run Dynamics in the System.- 5.4.4 A General Comparison of Two Alternative Models.- 5.4.5 Interpretation of the Long-run Relationships.- 5.5 Conclusions.- 5.A Appendix: Tables, Figures and the Data.- 6 Summary and Outlooks.- List of Tables.- List of Figures.- References.

Demand for money

Demand for money -- Europe

Monetary policy -- Europe

Christian Müller

Christian Müller

[Book]

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