Implementation of Johansen procedure in the estimation of demand for M1 and M2 using the Turkish data

Date

1993

Editor(s)

Advisor

Togan, Subidey

Supervisor

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Co-Supervisor

Instructor

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Volume

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Pages

Language

English

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Abstract

This study aims at estimating the money demand function for Turkey using quarterly data. Estimation is done, for both Ml and M2, using Johansen procedure, which is a variate of the theory of cointegration. The results of the Johansen procedure shows that real income is positively and expected loss is negatively related with demand for Ml and M2. Also, some linear restrictions are tested, by restricting the money demand coefficients. The results of these tests show that Tobin-Baumal model and unit elasticity of income are rejected for both Ml and M2.

Course

Other identifiers

Book Title

Degree Discipline

Economics

Degree Level

Master's

Degree Name

MA (Master of Arts)

Citation

Published Version (Please cite this version)