Explaining money demand in China during the transition from a centrally planned to a market-based monetary system

Anne-Laure Delatte, Julien Fouquau and Carsten Holz

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Abstract: Fundamental changes in institutions during the transition from a centrally planned to a market economy present a formidable challenge to monetary policy decision makers. For the case of China, we examine the institutional changes in the monetary system during the process of transition and develop money demand functions that reflect these institutional changes. We consider seasonal unit roots and estimate long-run, equilibrium money demand functions, explicitly taking into consideration the changes in the institutional ...

Keywords: Monetary system; money demand; cointegrating time-varying smooth transition regression model; seasonal unit-root test (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (2)

Published in Post-Communist Economies, 2014, Volume 26 (Numéro 3), pp 376-400. ⟨10.1080/14631377.2014.937099⟩

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Related works:
Journal Article: Explaining money demand in China during the transition from a centrally planned to a market-based monetary system (2014)
Working Paper: Explaining money demand in China during the transition from a centrally planned to a market-based monetary system (2011)
Working Paper: Explaining money demand in China during the transition from a centrally planned to a market-based monetary system (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01160174

DOI: 10.1080/14631377.2014.937099

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