Stability and non-linear dynamics in the broad demand for money in Spain.
type: Item
instance of: scholarly article
title: Stability and non-linear dynamics in the broad demand for money in Spain.
zbMATH Open document ID: 1037.91574
DOI: 10.1016/S0165-1765(02)00212-4
author: Javier Ordóñez
published in: Economics Letters
publication date: 2003-01-22T00:00:00Z
review text: In this article we estimate a money demand function for broad money in Spain in the period 1978--1998. Stability tests indicate the existence of a stable money demand function in the long but not in the short run. Using recent nonlinear techniques, we find that such instabilities are caused by a non-linear adjustment of real balances towards a stable long-run equilibrium.
Mathematics Subject Classification ID: 91B64
Mathematics Subject Classification ID: 91B42
zbMATH DE Number: 1857206
zbMATH Keywords: Buffer stock
zbMATH Keywords: Cointegration
zbMATH Keywords: Money demand
zbMATH Keywords: Non-linear dynamics
zbMATH Keywords: Target-bounds
MaRDI profile type: Publication
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description: scientific article; zbMATH DE number 1857206