Modelling of Currency outside Banks in Croatia

Maroje Lang (), Davor Kunovac (), Silvio Basač () and Željka Štaudinger ()
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Davor Kunovac: The Croatian National Bank, Croatia
Silvio Basač: The Croatian National Bank, Croatia
Željka Štaudinger: The Croatian National Bank, Croatia

No 17, Working Papers from The Croatian National Bank, Croatia

Abstract: This paper describes two econometric models for the short-term projections of currency outside banks in Croatia. The first model is a simple regression model that captures weekly, monthly and annual periodical patterns, given a daily series of currency outside banks. The second model, together with deterministic seasonality assumes the ARIMA structure of the residuals. Both models outperform the existing forecasts done in the CNB.

Keywords: daily forecast; liquidity management; time series models (search for similar items in EconPapers)
JEL-codes: C22 C32 C53 (search for similar items in EconPapers)
Pages: 15 pages
Date: 2008-02
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:hnb:wpaper:17

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