German monetary unification and the stability of the German M3 money demand function

Bahmani‐Oskooee, Mohsen; Bohl, Martin T.

doi:10.1016/s0165-1765(99)00223-2

Cited by 134 publications

(64 citation statements)

References 9 publications

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“…Besides the above statistics, next [14], the solidity of short & long run coefficient estimates is investigated by applying the CUSUM/CUSUMQSQ tests approved by [15]. For constancy of all the coefficients, the figure of the data necessity settles in 5% significant values.…”

Section: Resultsmentioning

confidence: 99%

Empirical Evidence on the J-Curve Between Pakistan and Selected South Asian Trade Partners

Khalid¹

2017

EBM

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Abstract:The earlier researches investigated the J-curve hypothesis along with the Marshall-Lerner condition in Pakistan used the OLS, 2SLS, 3SLS, and Instrumental Variables (IV) techniques. The estimates obtained from these studies may suffer from spurious regression problems as the models were estimated without incorporating the co-integrating property of the variables. Hence, the objective of this work is to analyze the trade balance model using relatively the new co-integration approach, the ARDL model. The J-curve phenomenon is tested for Pakistan's trade with her selected South Asian trade partners, including Republic of India and Democratic Socialist Republic of Sri Lanka using the annual time series data over the 1975-2013 periods. After empirical analysis, it was observed that the J-curve occurrence is rejected in favor of Pakistan with its trading partners. This study concludes that depreciation of Pakistani Rupee has a constructive result on Pakistan's trade with these trade partners.

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Section: Resultsmentioning

confidence: 99%

Empirical Evidence on the J-Curve Between Pakistan and Selected South Asian Trade Partners

Khalid¹

2017

EBM

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“…Empirical results of long run relations among variables are highly responsive to lag length specified in the econometric model [63]. The optimal order of lag length has been chosen by determining the 1st difference of the conditional ECM of time series ARDL.…”

Section: Optimal Lags Selectionmentioning

confidence: 99%

Effects of Macroeconomic Variables on the Stock Market Volatility: The Pakistan Experience

Khalid¹,

Khan²

2017

IJEFM

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This research paper empirically investigates the effects of interest rates, exchange rates and inflation rates on stock market performance of Pakistan by using annual time series data covering the 1991-2017 periods. The prime intention of this research was to inspect the long-run and short-run relationships between the KSE-100 index and macroeconomic variables by employing the econometric techniques of Autoregressive Distributed Lag (ARDL) bounds testing procedure to cointegration and the Error Correction Model (ECM), respectively. By applying the ARDL model, the empirical results revealed the fact that there was a negative and significant impact of interest rate on the market index, whereas; the exchange rate and the inflation rate have a positive impact on stock market volatility in the long-run. Furthermore, the ECM analysis pointed out that an estimated coefficient of the error correction term was significant with expected negative sign and showed that 46.53% deviation of the stock market index are corrected in the short-run per year. The study recommended that the monetary authorities should further reduce the bank rate up to the lowest rate in order to stimulate the stock market performance, which in turn; will boost the existing investment level and will encourage the new investment into the stock market. In addition, this policy will also ensure in the reduction of higher inflation rates. And the study found that the reduction in bank rate and stabilization in exchange rate is essential to local and foreign investors in the short-run.

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“…Bahmani-Oskooee ve Bohl (2000)'nın çalışmalarında M3 para talebi fonksiyonun istikrarı tüm Almanya için incelenmektedir. Yazar özellikle, 1990 yılında Batı ve Doğu Almanya'nın birleşmesinin para talebinin istikrarı üzerinde olumsuz bir etkide bulunabileceğinigöz önünde bulundurmaktadır.…”

Section: Seçilmiş Ampirik Literatürunclassified

Türkiye nin Modern Para Talebi Fonksiyonu: Gelir Bileşenleri, Ekonomik ve Parasal Belirsizlik - Modern Money Demand Function of Turkey: Income Components, Economic and Monetary Uncernainty

Güney¹

2017

isarder

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German monetary unification and the stability of the German M3 money demand function

Cited by 134 publications

References 9 publications

Empirical Evidence on the J-Curve Between Pakistan and Selected South Asian Trade Partners

Empirical Evidence on the J-Curve Between Pakistan and Selected South Asian Trade Partners

Effects of Macroeconomic Variables on the Stock Market Volatility: The Pakistan Experience

Türkiye nin Modern Para Talebi Fonksiyonu: Gelir Bileşenleri, Ekonomik ve Parasal Belirsizlik - Modern Money Demand Function of Turkey: Income Components, Economic and Monetary Uncernainty

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