The Demand for Money in Greece: An Exercise in Econometric Modelling with Cointegrated Variables
AbstractThis paper investigates empirically the relationship between the demand for real money balances and its determinants in Greece. The relationship under scrutiny is analyzed in the context of a small system involving money, prices, income, and interest rates using a recently proposed modeling strategy based on sequential reduction of a congruent vector autoregression. Special emphasis is placed on the importance of obtaining adequate representations of the nonstationary features of the data, as well as on the necessity of evaluating a model's adequacy through tests for congruence and encompassing. Copyright 1993 by Blackwell Publishing Ltd
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Bibliographic InfoArticle provided by Department of Economics, University of Oxford in its journal Oxford Bulletin of Economics & Statistics.
Volume (Year): 55 (1993)
Issue (Month): 2 (May)
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- Neil R. Ericsson & Sunil Sharma, 1996.
"Broad money demand and financial liberalization in Greece,"
International Finance Discussion Papers
559, Board of Governors of the Federal Reserve System (U.S.).
- Sunil Sharma & Neil R. Ericsson, 1998. "Broad money demand and financial liberalization in Greece," Empirical Economics, Springer, vol. 23(3), pages 417-436.
- Sunil Sharma & Neil R. Ericsson, 1996. "Broad Money Demand and Financial Liberalization in Greece," IMF Working Papers 96/62, International Monetary Fund.
- Sophocles N. Brissimis & George Hondroyiannis & P. A. V. B. Swamy & George S. Tavlas, 2003.
"Empirical Modelling of Money Demand in Periods of Structural Change: The Case of Greece,"
Oxford Bulletin of Economics and Statistics,
Department of Economics, University of Oxford, vol. 65(5), pages 605-628, December.
- Sophocles N. Brissimis & George Hondroyiannis & P.A.V.B. Swamy & George S. Tavlas, 2003. "Empirical Modelling of Money Demand in Periods of Structural Change: The Case of Greece," Working Papers 01, Bank of Greece.
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