Stability of the money demand function in Germany

Naoko Hamori and Shigeyuki Hamori

Applied Economics Letters, 1999, vol. 6, issue 5, 329-332

Abstract: This paper empirically analyses the stability of the money demand function in Germany. Important results may be summarized as follows. There was a stable relationship between money supply and real economic activity, and the money demand function was stable prior to German re-unification. The stability of money demand tends to be rejected, however, when the sample period is extended to cover German re-unification. When the stability of parameters was checked to confirm the occurrence of a structural change, it is evident that such a change did occur around 1990.

Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:6:y:1999:i:5:p:329-332

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DOI: 10.1080/135048599353339

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