𝔖 Bobbio Scriptorium
✦   LIBER   ✦

Forecasting with money demand functions: the UK case

✍ Scribed by Antonio Garcia-Ferrer; Alfonso Novales

Publisher
John Wiley and Sons
Year
1998
Tongue
English
Weight
251 KB
Volume
17
Category
Article
ISSN
0277-6693

No coin nor oath required. For personal study only.

✦ Synopsis

Money demand functions have long been known to be frequently subject to structural change. Since their use for optimal monetary policy design is basically a forecasting exercise, it is crucial to analyse the eect of time instability on the quality of their forecasts. We discuss in this paper whether instability of demand for money functions precludes their use for policy experiments, analysing a 1963Β±84 sample for the UK which has been widely used in the literature.

πŸ“œ SIMILAR VOLUMES

Forecasting demand in international mark
Forecasting demand in international markets: The case of correlated time series
✍ Chezy Ofir; Adi Raveh πŸ“‚ Article πŸ“… 1987 πŸ› John Wiley and Sons 🌐 English βš– 599 KB

In this paper a data analysis tool for analyzing highly correlated time series data is suggested. The main objective is to unify multiple time series into a single series and then apply a univariate method for the purpose of prediction. This method is essentially efficient for analyzing multiple tim

Non-linear error correction and the UK d
Non-linear error correction and the UK demand for broad money, 1878–1993
✍ Timo TerΓ€svirta; Ann-Charlotte Eliasson πŸ“‚ Article πŸ“… 2001 πŸ› John Wiley and Sons 🌐 English βš– 120 KB

## Abstract In this paper we reconsider an error‐correction model of UK broad money demand by Ericsson, Hendry and Prestwich. Their model is non‐linear in both variables and parameters, and it can be viewed as an approximation to a smooth transition regression (STR) type specification. The correspo