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Cointegration Analysis in a German Monetary System

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Cointegration Analysis in a German Monetary System
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  • Author : Kirstin Hubrich
  • Publisher : Physica
  • Pages : 176 pages
  • ISBN :
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Download or Read online Cointegration Analysis in a German Monetary System full in PDF, ePub and kindle. this book written by Kirstin Hubrich and published by Physica which was released on 20 April 2021 with total page 176 pages. We cannot guarantee that Cointegration Analysis in a German Monetary System book is available in the library, click Get Book button and read full online book in your kindle, tablet, IPAD, PC or mobile whenever and wherever You Like. With the decision of the European Central Bank to assign a prominent role to a monetary aggregate in its policy strategy, it is essential to further understand the policy of monetary targeting of the German Bundesbank and the conditions under which it succeeded. The focus of the empirical analysis is on long-run monetary relationships. A small sample simulation analysis compares the size and power properties of a broad range of systems cointegration tests. The results determine the methods chosen for the cointegration analysis of a small system of macroeconomic variables for Germany. Three stable long-run economic relationships are found which are of major interest for the conduct and transmission of monetary policy in Germany. With the stability of the long-run money demand relation one precondition for the monetary targeting strategy of the Bundesbank is fulfilled. The analysis accounts for the structural break of German reunification and examines the robustness of the empirical results.

Cointegration Analysis in a German Monetary System

Cointegration Analysis in a German Monetary System
  • Author : Kirstin Hubrich
  • Publisher : Physica
  • Release : 20 April 2021
GET THIS BOOK Cointegration Analysis in a German Monetary System

With the decision of the European Central Bank to assign a prominent role to a monetary aggregate in its policy strategy, it is essential to further understand the policy of monetary targeting of the German Bundesbank and the conditions under which it succeeded. The focus of the empirical analysis is on long-run monetary relationships. A small sample simulation analysis compares the size and power properties of a broad range of systems cointegration tests. The results determine the methods chosen for

Money Demand in Europe

Money Demand in Europe
  • Author : Christian Müller
  • Publisher : Springer Science & Business Media
  • Release : 06 December 2012
GET THIS BOOK Money Demand in Europe

The first of January 1999 marked the beginning of a macroeconomic experi ment without precedent in modern history. For the first time eleven European countries agreed to abolish their local currencies in favour of a single one, the Euro. Not surprisingly, the necessary preparatory process has been accompa nied by an intensive discussion about the best way to manage the new Euro currency properly. To spur on that discourse was the principal motivation for this thesis. The introductory chapter attempts to

Money Demand in Europe

Money Demand in Europe
  • Author : Helmut Lütkepohl,Jürgen Wolters
  • Publisher : Springer Science & Business Media
  • Release : 17 April 2013
GET THIS BOOK Money Demand in Europe

In 1999 a number of member states of the European Union will adopt a common currency. This change in the monetary system requires that a Eur opean Central Bank is set up and a common monetary policy is pursued. There is general agreement among those countries which are likely to join the common currency that price level stability has to be the ultimate objec tive of monetary po1icy. It is an open issue, however, what kind of policy is best

Money Stock Control and Inflation Targeting in Germany

Money Stock Control and Inflation Targeting in Germany
  • Author : Claus Brand
  • Publisher : Springer Science & Business Media
  • Release : 06 December 2012
GET THIS BOOK Money Stock Control and Inflation Targeting in Germany

1.1 Intermediate strategies for monetary policy The launch of a single European currency in January 1999 has been sparking a heated debate over what strategy the European Central Bank's policy should be based on so as to distribute and maintain monetary stability in Europe. In order to pass the Bundesbank's reputation as a tough inflation fighter on to the European Central Bank there have been strong efforts to make the ECB a close copy of the Bundesbank. It might be surmised that

Equilibrium Exchange Rate Models the Euro and the 2004 Expansion of the EU

Equilibrium Exchange Rate Models the Euro and the 2004 Expansion of the EU
  • Author : Isabell Koske
  • Publisher : Peter Lang Pub Incorporated
  • Release : 20 April 2021
GET THIS BOOK Equilibrium Exchange Rate Models the Euro and the 2004 Expansion of the EU

Since the launch of the euro in 1999, researchers, policy makers, and business analysts have put great interest in the evolution of the external value of the euro. In 2004 the European Monetary Union expanded its membership with the accession of ten countries from central and eastern Europe and the Mediterranean. As these countries are committed to adopt the euro as soon as they fulfill the Maastricht criteria, knowing their currencies' equilibrium value is of great policy interest. This study addresses these

Essays on Microeconomics and Industrial Organisation

Essays on Microeconomics and Industrial Organisation
  • Author : Pablo Coto-Millán
  • Publisher : Springer Science & Business Media
  • Release : 20 April 2021
GET THIS BOOK Essays on Microeconomics and Industrial Organisation

Essays on Microeconomics and Industrial Organisation aims to serve as a source and work of reference and consultation for the field of Microeconomics in general and of Industrial Organisation in particular. The book consists of four parts: Demand, Production and Costs (Supply), Market and Industrial Structure, and Failures of Market and Industrial Regulation. It combines theoretical concepts and a variety of empirical cases.