Stability issues in German money multiplier forecasts
This paper investigates the stability of the German money supply focusing on the period 1991 - 1998. It is shown that the standard ARIMA-Transfer model approach in the literature needs to be augmented by a cointegration term to adequately model the dynamics of money supply in Germany. Additional analysis with regard to the influence of financial innovations on the control of money supply yields evidence that the influence of financial innovations on the multiplier has increased steadily during the observation period.
|Date of creation:||1999|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +49 69 910-31831
Fax: +49 69 910 31877
Web page: http://www.dbresearch.de/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:zbw:dbrrns:998. 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: (ZBW - German National Library of Economics)
If references are entirely missing, you can add them using this form.