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On currency substitution and money demand instability

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  • Darrat, Ali F.
  • Al-Mutawa, Ahmed
  • Benkato, Omar M.

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  • Darrat, Ali F. & Al-Mutawa, Ahmed & Benkato, Omar M., 1996. "On currency substitution and money demand instability," International Review of Economics & Finance, Elsevier, vol. 5(3), pages 321-334.
    • Handle: RePEc:eee:reveco:v:5:y:1996:i:3:p:321-334
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    1. Phillips, P.C.B., 1986. "Understanding spurious regressions in econometrics," Journal of Econometrics, Elsevier, vol. 33(3), pages 311-340, December.
    2. Stephen S. Poloz, 1980. "Simultaneity and the Demand for Money in Canada," Canadian Journal of Economics, Canadian Economics Association, vol. 13(3), pages 407-420, August.
    3. Cuddington, John T. & Cuddington, John T., 1983. "Currency substitution, capital mobility and money demand," Journal of International Money and Finance, Elsevier, vol. 2(2), pages 111-133, August.
    4. Stephen M. Goldfeld, 1976. "The Case of the Missing Money," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 7(3), pages 683-740.
    5. Brittain, Bruce, 1981. "International Currency Substitution and the Apparent Instability of Velocity in Some Western European Economies and in the United States," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 13(2), pages 135-155, May.
    6. Miles, Marc A, 1978. "Currency Substitution, Flexible Exchange Rates, and Monetary Independence," American Economic Review, American Economic Association, vol. 68(3), pages 428-436, June.
    7. Bordo, Michael D & Choudhri, Ehsan U, 1982. "Currency Substitution and the Demand for Money: Some Evidence for Canada," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 14(1), pages 48-57, February.
    8. Cooley, Thomas F & LeRoy, Stephen F, 1981. "Identification and Estimation of Money Demand," American Economic Review, American Economic Association, vol. 71(5), pages 825-844, December.
    9. Yoshio Suzuki & Akio Kuroda & Hiromichi Shirakawa, 1988. "Monetary Control Mechanism in Japan," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 6(2), pages 1-27, November.
    10. Sun Bae Kim & Ramon Moreno, 1993. "Money, interest rates and economic activity: stylized facts for Japan," Economic Review, Federal Reserve Bank of San Francisco, pages 12-24.
    11. Paul Boothe, 1991. "Interest Parity, Cointegration, and the Term Structure in Canada and the United States," Canadian Journal of Economics, Canadian Economics Association, vol. 24(3), pages 595-603, August.
    12. Ortiz, Guillermo, 1983. "Currency Substitution in Mexico: The Dollarization Problem," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 15(2), pages 174-185, May.
    13. Hall, S G, 1986. "An Application of the Granger & Engle Two-Step Estimation Procedure to United Kingdom Aggregate Wage Data," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 48(3), pages 229-239, August.
    14. Farley, John U. & Hinich, Melvin & McGuire, Timothy W., 1975. "Some comparisons of tests for a shift in the slopes of a multivariate linear time series model," Journal of Econometrics, Elsevier, vol. 3(3), pages 297-318, August.
    15. Frenkel, Jacob A & Levich, Richard M, 1979. "Covered Interest Arbitrage and Unexploited Profits? Reply," Journal of Political Economy, University of Chicago Press, vol. 87(2), pages 418-422, April.
    16. Dallas S. Batten & Rik Hafer, 1984. "Currency substitution: a test of its importance," Review, Federal Reserve Bank of St. Louis, vol. 66(Aug), pages 5-11.
    17. Browne, F X, 1986. "Multilateral Currency Substitution and Capital Flows as," Empirical Economics, Springer, vol. 11(3), pages 181-196.
    18. Granger, C. W. J. & Newbold, P., 1974. "Spurious regressions in econometrics," Journal of Econometrics, Elsevier, vol. 2(2), pages 111-120, July.
    19. Ghosh, Sukesh K., 1989. "Currency substitution and demand for money in Canada: Further evidence," Journal of Macroeconomics, Elsevier, vol. 11(1), pages 81-93.
    20. Stephen M. Goldfeld, 1973. "The Demand for Money Revisited," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 4(3), pages 577-646.
    21. Melvin, Michael, 1985. "Currency Substitution and Western European Monetary Unification," Economica, London School of Economics and Political Science, vol. 52(205), pages 79-91, February.
    22. Dufour, Jean-Marie, 1980. "Dummy variables and predictive tests for structural change," Economics Letters, Elsevier, vol. 6(3), pages 241-247.
    23. Hamburger, Michael J., 1977. "The demand for money in an open economy : Germany and the United Kingdom," Journal of Monetary Economics, Elsevier, vol. 3(1), pages 25-40, January.
    24. Robert Corker, 1990. "Wealth, Financial Liberalization, and the Demand for Money in Japan," IMF Staff Papers, Palgrave Macmillan, vol. 37(2), pages 418-432, June.
    25. Joines, Douglas H., 1985. "International currency substitution and the income velocity of money," Journal of International Money and Finance, Elsevier, vol. 4(3), pages 303-316, September.
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    Cited by:

    1. Yasuyuki Sawada & Pan A. Yotopoulos, 2006. "Growth and Poverty Reduction Under Globalization: The Systematic Impact of Exchange Rate Misalignment," Discussion Papers 06-014, Stanford Institute for Economic Policy Research.
    2. Sharma, Subhash C. & Kandil, Magda & Chaisrisawatsuk, Santi, 2005. "Currency substitution in Asian countries," Journal of Asian Economics, Elsevier, vol. 16(3), pages 489-532, June.
    3. Robert Mulligan & Erwin Nijsse, 2001. "Shortage and currency substitution in transition economies: Bulgaria, Hungary, Poland, and Romania," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 7(3), pages 275-295, August.
    4. El-Shazly, Alaa, 2016. "Structural breaks and monetary dynamics: A time series analysis," Economic Modelling, Elsevier, vol. 53(C), pages 133-143.
    5. Shahbaz, Muhammad & Arouri, Mohamed & Teulon, Frédéric, 2014. "Short- and long-run relationships between natural gas consumption and economic growth: Evidence from Pakistan," Economic Modelling, Elsevier, vol. 41(C), pages 219-226.

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