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La demanda por medios de pago, revisitada

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  • Umberto Della Mea

    (Banco Central del Uruguay)

Abstract

This paper presents the estimation of a demand function for domestic money -defined in a narrow sense-, referred to the uruguayan economy. Some basic concepts belonging to different approaches are revised, paying a special attention to their open economy implications. We accept a cointegration hypothesis amongst the vector of variables, and a dynamic ECM specification a la Hendry is estimated, using Engle and Granger techniques. This estimation is made for the traditional MI aggregate, but also for a Divisia approximation

Suggested Citation

  • Umberto Della Mea, 1990. "La demanda por medios de pago, revisitada," Documentos de trabajo 0000007, Banco Central del Uruguay.
    • Handle: RePEc:bku:doctra:0000007
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    File URL: https://www.bcu.gub.uy/Estadisticas-e-Indicadores/Documentos%20de%20Trabajo/7.pdf
    File Function: First version, 1990
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