Year: 2011
Author: Pierdzioch, Christian, Rülke, Jan-Christoph, Stadtmann, Georg
Applied Economics Quarterly, Vol. 57 (2011), Iss. 1 : pp. 5–14
Abstract
We derive a money demand function from a dynamic macroeconomic general equilibrium model to analyze the correlations between professional economists' forecasts of the growth rate of money supply, the inflation rate, the growth rate of real output, and the nominal interest rate. Upon estimating the money demand function on survey data of professional economists' forecasts for fourteen Asian-Pacific and Central and South-Eastern European countries, we find that the correlations between professional economists' forecasts are broadly consistent with the money demand function implied by the macroeconomic model.
JEL Classification: E41, E47
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Journal Article Details
Publisher Name: Global Science Press
Language: English
DOI: https://doi.org/10.3790/aeq.57.1.5
Applied Economics Quarterly, Vol. 57 (2011), Iss. 1 : pp. 5–14
Published online: 2011-01
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 10
Author Details
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Expectations and the quantity equation – evidence from Eastern European countries
Fendel, Ralf
Ruelke, Jan-Christoph
Applied Economics, Vol. 46 (2014), Iss. 3 P.329
https://doi.org/10.1080/00036846.2013.839862 [Citations: 0]