| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP735 |
| DP735 Instability of the Velocity of Money: A New Approach Based on the Evolutionary Spectrum | |
| Michael Artis; Dilip M Nachane; Robin Bladen-Hovell | |
| 发表日期 | 1992-11-02 |
| 出版年 | 1992 |
| 语种 | 英语 |
| 摘要 | Money demand instability has been the subject of considerable attention in the recent literature. This paper examines the stability of velocity series for the United States and for five European countries (France, Germany, Italy, the Netherlands and the United Kingdom). A distribution-free test due to Subba Rao (1981) and based on the concept of the evolutionary spectrum is used. The test does not require the assumption that distributions are Gaussian and is able to decompose (by frequency) the sources of instability. The technique reveals structural breaks of long-term significance for only broad money velocity in the United States and narrow money velocity in the United Kingdom. |
| 主题 | International Macroeconomics |
| 关键词 | Evolutionary spectrum Frequency domain Instability Money demand Structural breaks Velocity |
| URL | https://cepr.org/publications/dp735 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529888 |
| 推荐引用方式 GB/T 7714 | Michael Artis,Dilip M Nachane,Robin Bladen-Hovell. DP735 Instability of the Velocity of Money: A New Approach Based on the Evolutionary Spectrum. 1992. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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