How stable is M2 money demand function in Japan?

被引:32
作者
Bahmani-Oskooee, M [1 ]
机构
[1] Univ Wisconsin, Dept Econ, Milwaukee, WI 53201 USA
关键词
money demand; cointegration; stability; CUSUM; CUSUMSQ;
D O I
10.1016/S0922-1425(01)00064-0
中图分类号
F [经济];
学科分类号
02 ;
摘要
The cointegrating property of the demand for money in Japan has been investigated by several researchers who have provided mixed results. None has investigated its stability. In this paper we employ the ARDL approach combined with CUSUM and CUSUMSQ tests to show that not only M2 is cointegrated with income and interest rate, but the estimated relation is stable. (C) 2001 Elsevier Science B.V. All rights reserved.
引用
收藏
页码:455 / 461
页数:7
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