Demand for money in the selected OECD countries : a time series panel data approach and structural breaks

Saten Kumar, Mamta B. Chowdhury, B. Bhaskara Rao

    Research output: Contribution to journalArticlepeer-review

    11 Citations (Scopus)

    Abstract

    Time series panel data estimation methods are used to estimate the cointegrating equations for the demand for money (M1) for a panel of 11 Organization for Economic Cooperation and Development (OECD) countries for which consistent quarterly data are available. The effects of financial reforms are analysed with structural break tests and estimates for alternative sub-samples. Our results for the post-reform sub-samples show that the income elasticity of the demand for money has decreased and response to interest rate changes has increased.
    Original languageEnglish
    Pages (from-to)1767-1776
    Number of pages10
    JournalApplied Economics
    Volume45
    Issue number14
    DOIs
    Publication statusPublished - 2013

    Keywords

    • OECD countries
    • Pedroni method
    • demand for money
    • money
    • stock exchanges
    • time series analysis

    Fingerprint

    Dive into the research topics of 'Demand for money in the selected OECD countries : a time series panel data approach and structural breaks'. Together they form a unique fingerprint.

    Cite this