German Monetary Unification and the Stability of the German M3 Money Demand Function
Bahmani-Oskooee M, Bohl MT
Abstract
This paper employs quarterly data from the whole of Germany to test the stability of M3 demand for money. The methodology is based on an application of the CUSUM and CUSUMSQ in the context of error-correction modeling and cointegration. The results reveal some instability in M3 money demand function.
Keywords
CUSUM; CUSUMSQ; Cointegration; M3; Germany
Publication type
Research article (journal)
Peer reviewed
Yes
Publication status
Published
Year
2000
Journal
Economics Letters
Volume
66
Issue
2
Start page
203
End page
208
Language
English
ISSN
0165-1765
DOI