Selected factors influencing the money demand development in the czech republic in 1994 - 2000

Josef Arlt, Milan Guba, Štěpán Radkovský, Vladimír Stiller and Milan Sojka

Prague Economic Papers, 2002, vol. 2002, issue 1, 39-56

Abstract: The demand for money represents one of the most important components of the transmission mechanism. Its analysis plays an important role in the decision-making process of central banks dealing with monetary policies. This paper follows a post-Keynesian approach to the analysis of the demand for money. The econometric analysis is based on the Arestis's model, adjusted for the conditions of the Czech Republic. The cointegration analysis on the basis of both the VAR and ADL models is applied. The premise is confirmed that the demand for money in the Czech Republic from 1994 - 2000 had developed in the long-run mostly under the influence of GDP and interest rate development. This conclusion is valid for balances in both real and nominal money.

Keywords: money demand; time series; econometric model; cointegration analysis (search for similar items in EconPapers)
JEL-codes: C22 C32 C51 C52 E41 (search for similar items in EconPapers)
Date: 2002
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://pep.vse.cz/doi/10.18267/j.pep.187.html (text/html)
http://pep.vse.cz/doi/10.18267/j.pep.187.pdf (application/pdf)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prg:jnlpep:v:2002:y:2002:i:1:id:187

Ordering information: This journal article can be ordered from
Editorial office Prague Economic Papers, University of Economics, nám. W. Churchilla 4, 130 67 Praha 3, Czech Republic
http://pep.vse.cz

DOI: 10.18267/j.pep.187

Access Statistics for this article

Prague Economic Papers is currently edited by Klára Pavlová

More articles in Prague Economic Papers from Prague University of Economics and Business Contact information at EDIRC.
Bibliographic data for series maintained by Stanislav Vojir ().