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The Demand for Money in Developing Countries

The Demand for Money in Developing Countries »

Source: The Demand for Money in Developing Countries : Assessing the Role of Financial innovation

Volume/Issue: 1991/45

Series: IMF Working Papers

Author(s): Jose De Gregorio , Peter Wickham , Patricio Arrau , and Carmen Reinhart

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1991

ISBN: 9781451974218

Keywords: money demand, equation, cointegration, inflation

Traditional specifications of money demand have been commonly plagued by persistent overprediction, implausible parameter estimates, and highly autocorrelated errors. This paper argues that some of those problems s...

Currency Substitution and Cross-Border Monetary Aggregation

Currency Substitution and Cross-Border Monetary Aggregation »

Source: Currency Substitution and Cross-Border Monetary Aggregation : Evidence From the G-7

Volume/Issue: 1992/81

Series: IMF Working Papers

Author(s): Timothy Lane , and Stephen Poloz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1992

ISBN: 9781451955040

Keywords: currency substitution, equations, equation, cointegration

Is there a stable aggregate money demand relationship for Europe? If so, why, and if not, why not? These questions are important for the implementation of policy by a European central bank, as well as for the appro...

Do Remittances to Latin America Depend on the U.S. Business Cycle?

Do Remittances to Latin America Depend on the U.S. Business Cycle? »

Source: Do Remittances to Latin America Depend on the U.S. Business Cycle?

Volume/Issue: 2007/273

Series: IMF Working Papers

Author(s): Ewa Gradzka , and Shaun Roache

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2007

ISBN: 9781451868364

Keywords: remittance, remittance flows, correlations, cointegration

We use a range of methods and remittance data from 1990 to 2007 to assess the strength and significance of linkages between remittance flows to Latin America and the U.S. business cycle. All of the evidence suggest...

Testing a Disequilibrium Model of Lending Rate Determination

Testing a Disequilibrium Model of Lending Rate Determination »

Source: Testing a Disequilibrium Model of Lending Rate Determination : The Case of Malaysia

Volume/Issue: 1991/84

Series: IMF Working Papers

Author(s): Barry Scholnick

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1991

ISBN: 9781451954364

Keywords: cointegration, equation, banking, probability, statistics

This study examines whether lending rates cleared the market for loans in Malaysia after interest rate liberalization. It is based on a theoretical model in which adverse selection and marginal cost pricing are bro...

Volatility and Predictability in National Stock Markets

Volatility and Predictability in National Stock Markets »

Source: Volatility and Predictability in National Stock Markets : How Do Emerging and Mature Markets Differ?

Volume/Issue: 1996/29

Series: IMF Working Papers

Author(s): Anthony Richards

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 1996

ISBN: 9781451844757

Keywords: emerging markets, predictability, autocorrelation, cointegration, standard deviation

This paper examines the evidence for the common assertion that the volatility of emerging stock markets has increased as a result of the liberalization of markets. A range of measures suggests that there has been n...

Additional Evidenceon Ems Interest Rate Linkages

Additional Evidenceon Ems Interest Rate Linkages »

Source: Additional Evidenceon Ems Interest Rate Linkages

Volume/Issue: 1996/115

Series: IMF Working Papers

Author(s): John Thornton , and Alicia García-Herrero

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1996

ISBN: 9781451942941

Keywords: interest rates, cointegration, statistics, granger causality, equation

This note examines interest rate linkages within the EMS. Cointegration tests suggest the existence of a long-run equilibrium relationship between German and other EMS interest rates. Bivariate VAR analysis finds t...

The Feldstein-Horioka Test of International Capital Mobility

The Feldstein-Horioka Test of International Capital Mobility »

Source: The Feldstein-Horioka Test of International Capital Mobility : Is it Feasible?

Volume/Issue: 1996/100

Series: IMF Working Papers

Author(s): W. Jansen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1996

ISBN: 9781451852356

Keywords: capital mobility, correlation, cointegration, correlations, time series

Feldstein and Horioka (1980) argued that the correlation of saving and investment in a cross-section of countries may provide a test of global capital mobility. This paper argues that neither the long-run nor the s...

Imports Under a Foreign Exchange Constraint

Imports Under a Foreign Exchange Constraint »

Source: Imports Under a Foreign Exchange Constraint : The Case of the Islamic Republic of Iran

Volume/Issue: 1995/97

Series: IMF Working Papers

Author(s): Adnan Mazarei

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 1995

ISBN: 9781451851960

Keywords: cointegration, equation, statistics, foreign exchange earnings

This paper examines the role of foreign exchange receipts in determining Iran’s imports during 1961/62-1992/93. It provides evidence of the existence of long-term relationship between imports and foreign exc...

The Underground Economy

The Underground Economy »

Source: The Underground Economy : Estimation, and Economic and Policy Implications: The Case of Pakistan

Volume/Issue: 1995/101

Series: IMF Working Papers

Author(s): Ghiath Shabsigh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1995

ISBN: 9781451852479

Keywords: equations, equation, cointegration, budget deficit, statistic

This paper estimates the size of the underground economy in Pakistan and analyzes its impact on Government fiscal position and the allocation of economic resources in the national economy. The results suggest that...

Financial Development and Economic Growth

Financial Development and Economic Growth »

Source: Financial Development and Economic Growth : An Economic Analysis for Singapore

Volume/Issue: 1996/15

Series: IMF Working Papers

Author(s): Lamin Leigh

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 1996

ISBN: 9781451843217

Keywords: equation, statistics, growth model, time series, cointegration

With the emergence of the rapidly expanding literature on endogenous growth, the relationship between financial development and economic growth has received a new source of inspiration. Recent cointegration techniq...