Altermatt, Sophie (March 2018). The Long-Run Demand for M2 Reconsidered (Discussion Papers 18-24). Bern: Department of Economics
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This paper reconsiders the long-run demand for M2 based on a newly constructed dataset featuring 32 countries since the first half of the 19th century. The evidence from cointegration tests suggests that a long-run equilibrium relationship for M2 demand is hardly present. Specifically, only for five countries (Finland, Korea, Mexico, Paraguay and Taiwan) cointegration tests produce strong evidence in favor of a stable long-run money demand. Evidence for Israel
and Lebanon is weaker, but still points towards a stable long-run demand for M2. For all other countries evidence speaks against a stable money demand or it is mixed across money demand specifications and/or type of cointegration test.
Item Type: |
Working Paper |
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Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Economics |
UniBE Contributor: |
Altermatt, Sophie Julia |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
Series: |
Discussion Papers |
Publisher: |
Department of Economics |
Language: |
English |
Submitter: |
Lars Tschannen |
Date Deposited: |
03 Sep 2020 08:34 |
Last Modified: |
05 Dec 2022 15:40 |
JEL Classification: |
E4, E41 |
BORIS DOI: |
10.7892/boris.145878 |
URI: |
https://boris.unibe.ch/id/eprint/145878 |
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