Monetary policy implementation and money demand instability during the financial crisis
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F11%3A00183410" target="_blank" >RIV/62156489:43110/11:00183410 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Monetary policy implementation and money demand instability during the financial crisis
Original language description
The author focuses on the money endogeneity in the context of common monetary policy implementation in the euro area. The empirical analysis shows money demand function instability during the financial crisis. The instability is described by decrease incredit money creation and money velocity changes. The cointegration tests identifed long-run positive relationship between monetary aggregates and economic activity. Concurrently, the economic activity is treated to be weakly exogenous in the model. Theconclusions are discussed with Postkeynesians' assumption, that central banks cannot fix the stock of money in a country. The causality is directed from economic activity to money demand.
Czech name
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Czech description
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Classification
Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
<a href="/en/project/GAP402%2F11%2F0570" target="_blank" >GAP402/11/0570: Time-frequency approach for the Czech Republic business cycle dating</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Others
Publication year
2011
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
ISSN
1211-8516
e-ISSN
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Volume of the periodical
LIX
Issue of the periodical within the volume
7
Country of publishing house
CZ - CZECH REPUBLIC
Number of pages
10
Pages from-to
177-186
UT code for WoS article
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EID of the result in the Scopus database
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