Money demand in Ireland, 1933-2012
![Thumbnail](/themes/edepositireland/images/white_rectangle.jpeg)
File Type:
PDFItem Type:
Journal ArticleDate:
2014Access:
openAccessCitation:
Gerlach, Stefan; Stuart, Rebecca. 'Money demand in Ireland, 1933-2012'. - Dublin: Statistical and Social Inquiry Society of Ireland, 2013-14, Vol.42, pp1-17Download Item:
Abstract:
Using annual data from several sources, we study the evolution of M1, M2, income, prices and long and short interest rates in Ireland over the period 1933-2012. We find cointegration and that prices, income and interest rates are weakly exogenous. While the estimates for M2 are stable and close to our priors, for M1 we obtain very low price elasticities, and a relatively high income elasticity, and detect parameter instability. We estimate a short-run M2 demand function that passes a number of diagnostic tests, although the standard errors of the regressions is large.
Author: Gerlach, Stefan; Stuart, Rebecca
Publisher:
Statistical and Social Inquiry Society of IrelandType of material:
Journal ArticleCollections
Series/Report no:
Journal of the Dublin Statistical Society;Vol. [No.], [Year];
Availability:
Full text availableKeywords:
Ireland, historical statistics, long time series, money, income, pricesISSN:
00814776Metadata
Show full item recordLicences: