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Money demand in Hungary and Poland

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  • Claudia Buch

Abstract

This paper analyses the determinants and the stability of money demand functions in Hungary and Poland, using an error-correction framework. The null of stable cointegration relationships cannot be rejected in some specifications. The results suggest that long-run parameters are in line with economic theory. While judging the appropriateness of different strategies of monetary policy on the basis of these findings alone would be premature, the paper suggests that money demand functions can serve as a useful reference for monetary authorities.

Suggested Citation

  • Claudia Buch, 2001. "Money demand in Hungary and Poland," Applied Economics, Taylor & Francis Journals, vol. 33(8), pages 989-999.
    • Handle: RePEc:taf:applec:v:33:y:2001:i:8:p:989-999
    DOI: 10.1080/00036840122107
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    References listed on IDEAS

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    1. Mr. Carlos A. Végh Gramont & Ms. Ratna Sahay, 1995. "Dollarization in Transition Economies: Evidence and Policy Implications," IMF Working Papers 1995/096, International Monetary Fund.
    2. Sahay, Ratna & Vegh, Carlos, 1995. "Dollarization in transition economies: Evidence and policy implications," MPRA Paper 20490, University Library of Munich, Germany.
    3. Mr. Robert Dekle & Mahmood Pradhan, 1997. "Financial Liberalization and Money Demand in Asean Countries: Implications for Monetary Policy," IMF Working Papers 1997/036, International Monetary Fund.
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