La demanda por medios de pago, revisitada

Umberto Della Mea ()
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Umberto Della Mea: Banco Central del Uruguay

No 7, Documentos de trabajo from Banco Central del Uruguay

Abstract: This paper presents the estimation of a demand function for domestic money -defined in a narrow sense-, referred to the uruguayan economy. Some basic concepts belonging to different approaches are revised, paying a special attention to their open economy implications. We accept a cointegration hypothesis amongst the vector of variables, and a dynamic ECM specification a la Hendry is estimated, using Engle and Granger techniques. This estimation is made for the traditional MI aggregate, but also for a Divisia approximation

Pages: 22 pages
Date: 1990
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