The Monthly Transaction Money Demand in Croatia

Ante Babić

No 5, Working Papers from The Croatian National Bank, Croatia

Abstract: In this paper, the monthly transaction money demand function in Croatia is empirically estimated. It is a continuation of previous money demand research by the author based on quarterly data in 1999. The main emphasis here is on a classical OLS analysis of transaction money demand relationships for various transaction money aggregates: currency outside banks – M0, currency outside banks plus demand deposits – M1, and M1 plus budgetary and extra-budgetary transaction balances held with commercial banks – M1a. The results are confirmed by stationarity tests, cointegration, Granger causality and unrestricted VARs.

Keywords: M0; M1; money demand; transaction money demand (search for similar items in EconPapers)
JEL-codes: E31 E41 E47 P24 (search for similar items in EconPapers)
Pages: 43 pages
Date: 2000-09
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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