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- W2363678083 abstract "Cointegration theory and error correction models are used to estimate Chinese static and dynamic money demand function at two stages(1978—1993 1994—2004). The empirical results show that, there exists a long-term and steady cointegration relationship between M1/M2, income, interest rate, expected price and monetary degree variable. The introduction of the monetary degree contributes to setting up more accurate and rational money demand function. The short-term dynamic equations of M1 and M2 in stage one are steady, but the equations of them in stage two are less steady. This indicates that money supply is not the best selection for the intermediary goal of monetary policy, and as the intermediary goal M1 is superior to M2." @default.
- W2363678083 created "2016-06-24" @default.
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- W2363678083 date "2005-01-01" @default.
- W2363678083 modified "2023-09-25" @default.
- W2363678083 title "Empirical Analysis for Chinese Money Demand Function ——Dynamic Testing Based on Two Stages(1978—1993 & 1994—2004)" @default.
- W2363678083 hasPublicationYear "2005" @default.
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