Advanced Search
MyIDEAS: Login to save this article or follow this journal

An error correction approach to modelling money balances and reserves

Contents:

Author Info

  • I. Civcir
  • A. Parikh

Abstract

The objective of this study is to propose an economic model of the nominal money balances and reserves in the Turkish economy during the period 1960-1988. As most of the variables show unit root non-stationarity, an approach based on the error correction system (Phillips, 1991) is adopted. The estimated parameters of the long-run money balance relationship based on this error correction system are very close to the Johansen-Juselius (1990) vector autoregressive modelling approach. An error correction system and the vector autoregressive modelling approaches are alternative representations of the cointegrated systems. This study empirically demonstrates the closeness of the two systems using the data from the Turkish monetary sector. The econometric estimates of the elasticities are plausible. In small samples, both approaches may not yield almost identical estimates since the theory underlying these approaches is asymptotic.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.emeraldinsight.com/Insight/viewContentItem.do;jsessionid=AF980ECD30DCDF6EA62D8D5455510871?contentType=Article&contentId=846085
Download Restriction: Cannot be freely downloaded

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Emerald Group Publishing in its journal Journal of Economic Studies.

Volume (Year): 25 (1998)
Issue (Month): 4 (September)
Pages: 277-295

as in new window
Handle: RePEc:eme:jespps:v:25:y:1998:i:4:p:277-295

Contact details of provider:
Web page: http://www.emeraldinsight.com

Order Information:
Postal: Emerald Group Publishing, Howard House, Wagon Lane, Bingley, BD16 1WA, UK
Email:
Web: http://www.emeraldinsight.com/jes.htm

Related research

Keywords: Cointegration; Models; Money supply; Systems analysis; Turkey;

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:eme:jespps:v:25:y:1998:i:4:p:277-295. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Virginia Chapman).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.