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A Comparison of Money Demand in Four Industrialized Countries Using Seemingly Unrelated Regressions

In this study, the possibility that money demand of one country might be affected by macroeconomic activities of other countries is investigated. We use the seemingly unrelated regression (SUR) technique, which takes into account all covariances between residuals of country-specific money demand equations. Efficiency of estimates using the SUR technique is enhanced because it uses information contained in the contemporaneous correlation of the error terms. The hypothesis of economic interdependence is tested. A proxy for foreign influence, deviation from interest rate parity (DIRP), is tested for significance in the money demand function.

Identiferoai:union.ndltd.org:unt.edu/info:ark/67531/metadc330950
Date08 1900
CreatorsDheeriya, P. L. (Prakash Lachmandas)
ContributorsHenderson, Glenn V., Jr., Karafiath, Imre, 1955-, Smith, Kenneth Leon
PublisherNorth Texas State University
Source SetsUniversity of North Texas
LanguageEnglish
Detected LanguageEnglish
TypeThesis or Dissertation
Formatvi, 133 leaves: ill., Text
RightsPublic, Dheeriya, P. L. (Prakash Lachmandas), Copyright, Copyright is held by the author, unless otherwise noted. All rights reserved.

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