A stable demand for money despite financial crisis: The case of Venezuela.
C. Bjørnland, Hilde;
- Publisher: Oslo: University of Oslo, Department of Economics
- Subject: Money demand; open economy; cointegration; dynamic specifications; equilibrium correction models | C22 | C32 | E41 | Geldnachfrage | dynamic specifications | Venezuela | Finanzmarktkrise | equilibrium correction models | cointegration | open economy | Money demand
- jel: jel:C22 | jel:C32 | jel:E41ddc: ddc:330
This paper investigates the demand for broad money in Venezuela, over a period of financial crisis and substantial exchange rate fluctuations. The analysis shows that there exist a long run relationship between real money, real income, inflation, the exchange rate and t... View more