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.

Money Demand and Disinflation in Selected CEECs during the Accession to the EU

Urheber*in: Fidrmuc, Jarko

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Language
Englisch
Extent
Seite(n): 1259-1267
Notes
Status: Postprint; begutachtet (peer reviewed)

Bibliographic citation
Applied Economics, 41(10)

Event
Geistige Schöpfung
(who)
Fidrmuc, Jarko
Event
Veröffentlichung
(when)
2009

DOI
URN
urn:nbn:de:0168-ssoar-241362
Rights
GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln
Last update
21.06.2024, 4:27 PM CEST

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Object type

  • Zeitschriftenartikel

Associated

  • Fidrmuc, Jarko

Time of origin

  • 2009

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