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- W2755179618 abstract "ABSTRACTThis article investigates the existence of a long-run money demand relation for a panel data consisting of 13 OECD countries. The analysis is based on the most recent data. The existence of a long-run money demand relation is tested with two new meta-analytic panel cointegrating rank tests which are robust to cross-sectional dependence. Cross-sectional dependency in the data generating process is modelled by unobserved common factors. The observed data are decomposed into idiosyncratic and common components, and these two components are analysed separately to find out the driving forces of the long-run stationary relationship. The evidence shows that the long-run money demand relation is driven by the cross-unit cointegration. Finally, the long-run relation is estimated by taking the common factors into account." @default.
- W2755179618 created "2017-09-25" @default.
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- W2755179618 date "2017-09-13" @default.
- W2755179618 modified "2023-09-24" @default.
- W2755179618 title "Analysing money demand relation for OECD countries using common factors" @default.
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- W2755179618 doi "https://doi.org/10.1080/00036846.2017.1371842" @default.
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