Skip to main content

Demand for money in the selected OECD countries: a time series panel data approach and structural breaks

Buy Article:

$53.17 plus tax (Refund Policy)

Abstract:

Time series panel data estimation methods are used to estimate the cointegrating equations for the demand for money (M1) for a panel of 11 Organization for Economic Cooperation and Development (OECD) countries for which consistent quarterly data are available. The effects of financial reforms are analysed with structural break tests and estimates for alternative sub-samples. Our results for the post-reform sub-samples show that the income elasticity of the demand for money has decreased and response to interest rate changes has increased.

Keywords: C50; E41; Pedroni method; Westerlund method; demand for money; financial reforms

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/00036846.2011.637897

Affiliations: 1: Department of Economics,Auckland University of Technology, Auckland, New Zealand 2: School of Economics, University of Western Sydney, Sydney,NSW, Australia

Publication date: May 1, 2013

More about this publication?
routledg/raef/2013/00000045/00000014/art00001
dcterms_title,dcterms_description,pub_keyword
6
5
20
40
5

Access Key

Free Content
Free content
New Content
New content
Open Access Content
Open access content
Subscribed Content
Subscribed content
Free Trial Content
Free trial content
Cookie Policy
X
Cookie Policy
ingentaconnect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more