메뉴 건너뛰기




Volumn 45, Issue 3, 2000, Pages 717-739

The long-run stability of the demand for money: Italy 1861-1996

Author keywords

Cointegration; Demand for money; E41; Italian monetary history; Monetary transmission mechanism

Indexed keywords


EID: 0001065452     PISSN: 03043932     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0304-3932(00)00011-8     Document Type: Article
Times cited : (30)

References (36)
  • 1
    • 0001162133 scopus 로고
    • Tests for parameter instability and structural change with unknown change point
    • Andrews D.W.K. Tests for parameter instability and structural change with unknown change point. Econometrica. 61:1993;821-856.
    • (1993) Econometrica , vol.61 , pp. 821-856
    • Andrews, D.W.K.1
  • 2
    • 0000209591 scopus 로고
    • Optimal tests when a nuisance parameter is present only under the alternative
    • Andrews D.W.K., Ploberger W. Optimal tests when a nuisance parameter is present only under the alternative. Econometrica. 62:1994;1383-1414.
    • (1994) Econometrica , vol.62 , pp. 1383-1414
    • Andrews, D.W.K.1    Ploberger, W.2
  • 3
    • 0042109518 scopus 로고
    • How unstable is the demand for money in the United Kingdom?
    • Artis, M.J., Lewis, M.K., 1984. How unstable is the demand for money in the United Kingdom? Economica 51, 473-476.
    • (1984) Economica , vol.51 , pp. 473-476
    • Artis, M.J.1    Lewis, M.K.2
  • 5
    • 38249015470 scopus 로고
    • Money demand instability, expectations and policy regimes: A note on the case of Italy 1964-86
    • Bagliano F.C., Favero C.A. Money demand instability, expectations and policy regimes: a note on the case of Italy 1964-86. Journal of Banking and Finance. 16:1992;331-349.
    • (1992) Journal of Banking and Finance , vol.16 , pp. 331-349
    • Bagliano, F.C.1    Favero, C.A.2
  • 8
    • 0038842427 scopus 로고
    • Modeling money demand in large industrial countries
    • Boughton J.M., Tavlas G.S. Modeling money demand in large industrial countries. Journal of Policy Modeling. 12:1990;433-461.
    • (1990) Journal of Policy Modeling , vol.12 , pp. 433-461
    • Boughton, J.M.1    Tavlas, G.S.2
  • 9
    • 0042109521 scopus 로고
    • The role of money supply shocks in the short-run demand for money
    • Carr J., Darby M. The role of money supply shocks in the short-run demand for money. Journal of Monetary Economics. 7:1981;183-200.
    • (1981) Journal of Monetary Economics , vol.7 , pp. 183-200
    • Carr, J.1    Darby, M.2
  • 10
    • 0042109519 scopus 로고
    • Modelling the demand for money
    • C.J. Green, Llewellyn D.T. Oxford: Blackwells
    • Cuthbertson K. Modelling the demand for money. Green C.J., Llewellyn D.T. Surveys in Monetary Economics. Vol. I:1991;1-73 Blackwells, Oxford.
    • (1991) Surveys in Monetary Economics , vol.1 , pp. 1-73
    • Cuthbertson, K.1
  • 12
    • 0003927972 scopus 로고    scopus 로고
    • Microfoundations and the demand for money
    • (Ed.)
    • Dixon, H. (Ed.), 1997. Microfoundations and the demand for money. Economic Journal 107, 1169-1213.
    • (1997) Economic Journal , vol.107 , pp. 1169-1213
    • Dixon, H.1
  • 13
    • 0000013567 scopus 로고
    • Cointegration and error-correction: Representation, estimation and testing
    • Engle R.F., Granger C.W.J. Cointegration and error-correction: representation, estimation and testing. Econometrica. 55:1987;271-276.
    • (1987) Econometrica , vol.55 , pp. 271-276
    • Engle, R.F.1    Granger, C.W.J.2
  • 17
    • 0000343255 scopus 로고    scopus 로고
    • Residual-based tests for cointegration in models with regime shifts
    • Gregory A.W., Hansen B.E. Residual-based tests for cointegration in models with regime shifts. Journal of Econometrics. 71:1996;321-341.
    • (1996) Journal of Econometrics , vol.71 , pp. 321-341
    • Gregory, A.W.1    Hansen, B.E.2
  • 18
    • 84952494734 scopus 로고
    • Tests for parameter instability in regressions with I(1) processes
    • Hansen B.E. Tests for parameter instability in regressions with I(1) processes. Journal of Business and Economic Statistics. 10:1992;321-335.
    • (1992) Journal of Business and Economic Statistics , vol.10 , pp. 321-335
    • Hansen, B.E.1
  • 20
    • 0001771824 scopus 로고
    • An econometric analysis of the UK money demand in 'Monetary trends in the United States and the United Kingdom.' by Milton Friedman and Anna J Schwartz
    • Hendry D.F., Ericsson N.R. An econometric analysis of the UK money demand in 'Monetary trends in the United States and the United Kingdom.' by Milton Friedman and Anna J Schwartz. American Economic Review. 81:1991;8-38.
    • (1991) American Economic Review , vol.81 , pp. 8-38
    • Hendry, D.F.1    Ericsson, N.R.2
  • 22
    • 0043111395 scopus 로고
    • The demand for money in the US - Yet again
    • In: Brunner, K. and Meltzer, A. (Eds.), Carnegie-Rochester Conference Series on Public Policy
    • Laidler, D.E.W., 1980. The demand for money in the US - yet again. In: Brunner, K. and Meltzer, A. (Eds.), On the State of Macroeconomics, Carnegie-Rochester Conference Series on Public Policy, Vol. 12.
    • (1980) On the State of Macroeconomics , vol.12
    • Laidler, D.E.W.1
  • 24
    • 84981435658 scopus 로고
    • A small macromodel of the post-war United States, 1953-72
    • Laidler D.E.W., Bentley B. A small macromodel of the post-war United States, 1953-72. The Manchester School. 51:1983;317-340.
    • (1983) The Manchester School , vol.51 , pp. 317-340
    • Laidler, D.E.W.1    Bentley, B.2
  • 25
    • 45549117529 scopus 로고
    • Money demand in the United States: A quantitative review
    • Lucas R.E. Money demand in the United States: a quantitative review. Carnegie-Rochester Series on Public Policy. 29:1988;137-168.
    • (1988) Carnegie-Rochester Series on Public Policy , vol.29 , pp. 137-168
    • Lucas, R.E.1
  • 26
    • 0002378331 scopus 로고
    • Critical values for cointegration tests
    • R.F. Engle, & C.W.J. Granger. Oxford: Oxford University Press
    • MacKinnon J.G. Critical values for cointegration tests. Engle R.F., Granger C.W.J. Long-Run Economic Relationships. 1991;Oxford University Press, Oxford.
    • (1991) Long-Run Economic Relationships
    • MacKinnon, J.G.1
  • 29
    • 84981441573 scopus 로고
    • Cointegration, financial innovation and modelling the demand for money in Italy
    • Muscatelli V.A., Papi L. Cointegration, financial innovation and modelling the demand for money in Italy. The Manchester School. 58:1990;242-259.
    • (1990) The Manchester School , vol.58 , pp. 242-259
    • Muscatelli, V.A.1    Papi, L.2
  • 30
    • 0030560505 scopus 로고    scopus 로고
    • Modeling monetary trends in Italy using historical data: The demand for broad money 1861-1990
    • Muscatelli V.A., Spinelli F. Modeling monetary trends in Italy using historical data: the demand for broad money 1861-1990. Economic Inquiry. 34:1996;579-614.
    • (1996) Economic Inquiry , vol.34 , pp. 579-614
    • Muscatelli, V.A.1    Spinelli, F.2
  • 31
    • 0000899296 scopus 로고
    • The great crash, the oil price shock and the unit root hypothesis
    • Perron P. The great crash, the oil price shock and the unit root hypothesis. Econometrica. 57:1989;1361-1401.
    • (1989) Econometrica , vol.57 , pp. 1361-1401
    • Perron, P.1
  • 33
    • 84959818799 scopus 로고
    • Statistical inference in instrumental variables regression with I(1) processes
    • Phillips P.C.B., Hansen B.E. Statistical inference in instrumental variables regression with I(1) processes. Review of Economic Studies. 57:1990;99-125.
    • (1990) Review of Economic Studies , vol.57 , pp. 99-125
    • Phillips, P.C.B.1    Hansen, B.E.2
  • 34
    • 0000784320 scopus 로고
    • Asymptotic properties of residual based tests for cointegration
    • Phillips P.C.B., Ouliaris S. Asymptotic properties of residual based tests for cointegration. Econometrica. 58:1990;165-193.
    • (1990) Econometrica , vol.58 , pp. 165-193
    • Phillips, P.C.B.1    Ouliaris, S.2
  • 35
    • 0040904628 scopus 로고
    • The demand for money in the Italian economy 1867-1965
    • Spinelli F. The demand for money in the Italian economy 1867-1965. Journal of Monetary Economics. 6:1980;83-104.
    • (1980) Journal of Monetary Economics , vol.6 , pp. 83-104
    • Spinelli, F.1
  • 36
    • 0001527764 scopus 로고
    • A simple estimator of cointegrating vectors in higher order integrated systems
    • Stock J.H., Watson M.W. A simple estimator of cointegrating vectors in higher order integrated systems. Econometrica. 61:1993;783-820.
    • (1993) Econometrica , vol.61 , pp. 783-820
    • Stock, J.H.1    Watson, M.W.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.