Can I read Aggregate Money Demand Functions : Empirical Applications in Cointegrated Systems on EtoBox?

Aggregate Money Demand Functions : Empirical Applications in Cointegrated Systems by Dennis L. Hoffman; Robert H. Rasche is a book available to read on EtoBox.

What is Aggregate Money Demand Functions : Empirical Applications in Cointegrated Systems about?

The econometric consequences of nonstationary data have wide ranging im plications for empirical research in economics. Specifically, these issues have implications for the study of empirical relations such as a money demand func tion that links macroeconomic aggregates: real money balances, real income and a nominal interest rate. Traditional monetary theory predicts that these nonsta tionary series form a cointegrating relation and accordingly, that the dynamics of a vector process comprised of these variables generates distinct patterns. Re cent econometric developments designed to cope with nonstationarities have changed the course of empirical research in the area, but many fundamental challenges, for example the issue of identification, remain. This book represents the efforts undertaken by the authors in recent years in an effort to determine the consequences that nonstationarity has for the study of aggregate money demand relations. We have brought together an empirical methodology that we find useful in conducting empirical research. Some of the work was undertaken during the authors' sabbatical periods and we wish to acknowledge the generous support of Arizona State Unive

Author

Dennis L. Hoffman; Robert H. Rasche

Publisher

Kluwer Academic Publishers; Springer

Published

2012

Language

EN

ISBN

9780792397045

Subjects

Business, Economics, Finance