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in Selecting a Money Target
Breakpoint Chow Tests of Inflation Equation
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aggregate that includes Argentina asset substitution base money Breakpoint Chow test broader aggregates capital mobility cash in circulation central bank choice of exchange cointegration Granger Causality Cuddington currency substitution dollar assets dollar cash dollar currency domestic and foreign domestic banks domestic currency domestic money dummy captures elasticity of money equilibrium Ericsson error correction term exchange rate regime F-test fixed exchange rate floating exchange rate foreign assets foreign currency deposits foreign money Full Sample Granger Causality R-squared Granger causes inflation hyperinflation inflation equation interest elasticity intermediate target International Monetary Fund lags Bivariate M3_US MB CC Ml measure of dollar monetary aggregates monetary assets monetary authorities monetary policy monetary shocks money aggregates money and prices money demand equation money market money supply narrower aggregates output Peru price equation random shock rate of depreciation rate under currency real shocks recent sub-sample stability Trivariate No cointegration U.S. dollar variables volatility