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Aggregate demand for narrow and broad money: a study for the brazilian economy (1970-1983)

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  • Guilhoto, Joaquim J.M.

Abstract

To study the aggregate demand for narrow and broad money for the Brazilian economy in its most recent period, 1970 to 1983, a basic model was developed. From this model, which is a restricted one, an unrestricted del was derived. Using information from both models, the unrestrited model was used to derive a common factor model as well as a first differences model. The best results are attained with the common factor model.

Suggested Citation

  • Guilhoto, Joaquim J.M., 1985. "Aggregate demand for narrow and broad money: a study for the brazilian economy (1970-1983)," MPRA Paper 53946, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:53946
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    References listed on IDEAS

    as
    1. Stephen M. Goldfeld, 1976. "The Case of the Missing Money," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 7(3), pages 683-740.
    2. Hendry, David F & Mizon, Grayham E, 1978. "Serial Correlation as a Convenient Simplification, not a Nuisance: A Comment on a Study of the Demand for Money by the Bank of England," Economic Journal, Royal Economic Society, vol. 88(351), pages 549-563, September.
    3. Feige, Edgar L & Pearce, Douglas K, 1977. "The Substitutability of Money and Near-Monies: A Survey of the Time-Series Evidence," Journal of Economic Literature, American Economic Association, vol. 15(2), pages 439-469, June.
    4. Silveira, Antonio M, 1973. "The Demand for Money: The Evidence from the Brazilian Economy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 5(1), pages 113-140, Part I Fe.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Aggregate demand; Brazilian economy; common factor model;
    All these keywords.

    JEL classification:

    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models

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