Money Demand in Romanian Economy, Using Multiple Regression Method and Unrestricted VAR Model
Journal Title: Journal of Applied Quantitative Methods - Year 2008, Vol 3, Issue 2
Abstract
The paper describes the money demand in Romanian economy using two econometrics models. The first model consist in a multiple regression between demand money, monthly inflation rate, Industrial production Index and the foreign exchange rate RON/Euro. The second model (Unrestricted Vector AutoRegressive model) is applied for the same variables used in the first model. Identifying a statistically strong model, capable of stable estimations for the money demand function in Romania’s economy constitutes a prerequisite to the application of an efficient monetary policy.
Authors and Affiliations
Mariana KAZNOVSKY
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