Demand for money in the selected OECD countries: a time series panel data approach and structural breaks
Mamta Chowdhury and
Applied Economics, 2013, vol. 45, issue 14, 1767-1776
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.
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Working Paper: Demand for Money in the Selected OECD Countries: A Time Series Panel Data Approach and Structural Breaks (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:taf:applec:45:y:2013:i:14:p:1767-1776
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