A TIMEWISE SPECIFICATION SENSITIVE LOOK at MONEY DEMAND: AN ANALYSIS of US DATA

Ismail Genc

doi:10.1142/S2010495207500030

A TIMEWISE SPECIFICATION SENSITIVE LOOK at MONEY DEMAND: AN ANALYSIS of US DATA

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Abstract

This paper analyses the money demand relationship with a clear distinction in the functional forms of short- and long-run. It is shown that there is a long-run relationship between money and income, and that money demand declines after a certain level of income is achieved in the short-run. Demand tends to converge to its long-run levels. Credit has a negative but statistically insignificant impact on money demand.

Original language	English
Article number	7500030
Journal	Annals of Financial Economics
Volume	3
Issue number	1
DOIs	https://doi.org/10.1142/S2010495207500030
Publication status	Published - 1 Jun 2007
Externally published	Yes

Bibliographical note

Publisher Copyright:
© 2007 World Scientific Publishing Company.

Keywords

money demand
Nonlinearity
TAR

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10.1142/S2010495207500030

Cite this

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abstract = "This paper analyses the money demand relationship with a clear distinction in the functional forms of short- and long-run. It is shown that there is a long-run relationship between money and income, and that money demand declines after a certain level of income is achieved in the short-run. Demand tends to converge to its long-run levels. Credit has a negative but statistically insignificant impact on money demand.",

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A TIMEWISE SPECIFICATION SENSITIVE LOOK at MONEY DEMAND: AN ANALYSIS of US DATA

Abstract

Bibliographical note

Keywords

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