The Transactions Demand for Money in Chile
Christopher Adam ()
QEH Working Papers from Queen Elizabeth House, University of Oxford
This paper examines the transactions demand for money in Chile over the period from 1986 to 2000. Using systems cointegration methods suggested by Johansen (1995), we find that although macroeconomic data for Chile exhibit strong trend-stationarity during this period it is possible to recover relatively robust single-equation specifications for the transactions demand for money. Error-correction models in which money demand is conditioned on real wealth, the level of economic activity, and the nominal Central Bank policy rate provide robust basis for inference. Controlling for a shift in velocity in the end of 1998 the models exhibit a high-degree of out-of-sample predictive power over the period from 1998 to mid 2000.
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed
Downloads: (external link)
Our link check indicates that this URL is bad, the error code is: 404 Not Found
Journal Article: The Transactions Demand for Money in Chile (2000)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:qeh:qehwps:qehwps60
Access Statistics for this paper
More papers in QEH Working Papers from Queen Elizabeth House, University of Oxford Queen Elizabeth House 3 Mansfield Road, Oxford, OX1 3TB United Kingdom. Contact information at EDIRC.
Bibliographic data for series maintained by IT Support ().