Arbeitspapier
The long-run demand for M2 reconsidered
This paper reconsiders the long-run demand for M2 based on a newly constructed dataset featuring 32 countries since the first half of the 19th century. The evidence from cointegration tests suggests that a long-run equilibrium relationship for M2 demand is hardly present. Specifically, only forfive countries (Finland, Korea, Mexico, Paraguay and Taiwan) cointegration tests produce strong evidence in favor of a stable long-run money demand. Evidence for Israel and Lebanon is weaker, but still points towards a stable long-run demand for M2. For all other countries evidence speaks against a stable money demand or it is mixed across money demand specifications and/or type of cointegration test.
- Sprache
-
Englisch
- Erschienen in
-
Series: Discussion Papers ; No. 18-24
- Klassifikation
-
Wirtschaft
Demand for Money
- Thema
-
Money Demand
Velocity
Cointegration
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Altermatt, Sophie
- Ereignis
-
Veröffentlichung
- (wer)
-
University of Bern, Department of Economics
- (wo)
-
Bern
- (wann)
-
2018
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Altermatt, Sophie
- University of Bern, Department of Economics
Entstanden
- 2018
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