Autore
Gennari, Elena

Titolo
Estimating money demand in Italy
Periodico
European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1999 - Fascicolo: 7 - Pagina iniziale: 1 - Pagina finale: 36

A money demand relationship for Italy is estimated from 1970 to 1994 within a coiutegrated VAR framework. Changes in thè money market due to an important fìnancial innovation process are introduced in thè cointegration space through a Logistic Smooth Transition function tested and estimated at an earlier stage using Engle-Granger cointegration analysis. Resulta suggest thè impor-tance of such a non linearity to acheive a better identification of thè long-run equilibria aithough differences in variability between thè periods pre and post-1983 stili emerge



Testo completo: http://www.iue.it/ECO/WP-Texts/ECO99-7.pdf

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