Recently the Bundesbank claimed that monetary targeting has become considerably more di cult by the increased volatility of short term money growth The present paper investigates the impact of German money growth volatility on income velocity and money demand in view of Friedman s money growth volatility hypothesis Granger causality tests provide some evidence for a velocity volatility linkage ...

This paper investigates the endogenous money supply hypothesis in Iran. To this end, we attempt to find causality directions between bank credits and money aggregates. Utilizing Diks and Panchenko’s (2006) nonparametric Granger causality test for the time series data over the period 2006:04-2018:12 confirms the existence of a significant causality running from bank credits to money aggregates. ...

This paper attempts to take a meticulous look on stability of money demand in India Using annual data for period 1953-2007 and the Hansen (1992) and Gregory Hansen (1996) co-integration approaches with structural break. Results of the Gregory Hansen (1996) cointegration analysis show the presence of cointegration in demand for money, real GDP and nominal interest rate with structural break at 1...

Submitted: Jul 2, 2013; Accepted: Aug 14, 2013; Published: Aug 29, 2013 Abstract: The main focus of the study is to find the determinants of money demand in Pakistan. We used disaggregated expenditures approach in this regard. To find the co-integration among the variables of the model, Johansen co-integration approach is utilized. The results of the study show that the co-integration exists am...