Journal article | Zeitschriftenartikel
Money Demand and Disinflation in Selected CEECs during the Accession to the EU
A panel data set for six countries (Czech Republic, Hungary, Poland, Romania, Slovakia, and Slovenia) is used to estimate money demand with panel cointegration methods over the recent disinflation period. The basic money demand model is able to convincingly explain the long-run dynamics of M2 in the selected countries. However, money demand is found to have been significantly determined by the euro area interest rates and the exchange rate against the euro, which indicates possible instability of money demand functions in the CEECs. Therefore, direct inflation targeting is an appropriate monetary regime before the eventual adoption of the euro.
- Language
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Englisch
- Extent
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Seite(n): 1259-1267
- Notes
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Status: Postprint; begutachtet (peer reviewed)
- Bibliographic citation
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Applied Economics, 41(10)
- Event
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Geistige Schöpfung
- (who)
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Fidrmuc, Jarko
- Event
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Veröffentlichung
- (when)
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2009
- DOI
- URN
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urn:nbn:de:0168-ssoar-241362
- Rights
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GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln
- Last update
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21.06.2024, 4:27 PM CEST
Data provider
GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln. If you have any questions about the object, please contact the data provider.
Object type
- Zeitschriftenartikel
Associated
- Fidrmuc, Jarko
Time of origin
- 2009