Year: 1998
Author: Nautz, Dieter
Credit and Capital Markets – Kredit und Kapital, Vol. 31 (1998), Iss. 2 : pp. 171–189
Abstract
How Useful are Money Multiplier Forecasts for the Monetary Targeting of the Bundesbank?
The controllability of monetary aggregates is often analyzed using money multiplier forecast equations. The present paper investigates the usefulness of this approach. Cointegration analysis and Granger causality tests reveal that German monetary aggregates are not controlled via changes in the monetary base. Therefore, it is pointless to analyze the Bundesbank’s monetary targeting applying money multiplier forecasts.
Journal Article Details
Publisher Name: Global Science Press
Language: Multiple languages
DOI: https://doi.org/10.3790/ccm.31.2.171
Credit and Capital Markets – Kredit und Kapital, Vol. 31 (1998), Iss. 2 : pp. 171–189
Published online: 1998-02
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 19
Author Details
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