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Aggregate Money Demand Functions Daniel W Veranstaltung: Seminar: Jugend und Arbeit

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Veranstaltung: Seminar: Jugend und Arbeit

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Aggregate Money Demand Functions Daniel W Veranstaltung: Seminar: Jugend und ArbeitThe econometric consequences of nonstationary data have wide ranging im plications for empirical research in economics. Specifically, these issues have implications for the study of empirical relations such as a money demand func tion that links macroeconomic aggregates: real money balances, real income and a nominal interest rate. Traditional monetary theory predicts that these nonsta tionary series form a cointegrating relation and accordingly, that

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