The relationship between M3 and consumer price index in the Czech Republic

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216275%3A25410%2F17%3A39911586" target="_blank" >RIV/00216275:25410/17:39911586 - isvavai.cz</a>

Výsledek na webu

<a href="http://dx.doi.org/10.18844/prosoc.v4i10.3081" target="_blank" >http://dx.doi.org/10.18844/prosoc.v4i10.3081</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.18844/prosoc.v4i10.3081" target="_blank" >10.18844/prosoc.v4i10.3081</a>

Jazyk výsledku

angličtina

Název v původním jazyce

The relationship between M3 and consumer price index in the Czech Republic

Popis výsledku v původním jazyce

The aim of this paper is to analyze the influence of monetary aggregate M3 on consumer price index (CPI) in the Czech Republic. Cointegration this selected indicator M3 is demonstrated in relation to the development of CPI using the Engle - Granger cointegration test. These tests are applied to selected statistical data from the years 2003 to 2016. First step is to determine the optimum delay using Akaike criteria for all-time series analyzed. Then the presence of a unit root is analyzed using the Dickey - Fuller test. Based on the test results, time series are excluded which appear to be stationary. If the conditions are met, testing then continued with the Engle - Granger test to detect cointegration relations, which would determine a long-term relationship between selected variables. Based on these tests, it is found that at a significance level of 0.05, doesn´t exist cointegration relationship between M3 and CPI in the Czech Republic. Conclusions resulting from the verification of the hypotheses are supported with graphical visualization of data from which it is apparent that these hypotheses can be rejected.

Název v anglickém jazyce

The relationship between M3 and consumer price index in the Czech Republic

Popis výsledku anglicky

The aim of this paper is to analyze the influence of monetary aggregate M3 on consumer price index (CPI) in the Czech Republic. Cointegration this selected indicator M3 is demonstrated in relation to the development of CPI using the Engle - Granger cointegration test. These tests are applied to selected statistical data from the years 2003 to 2016. First step is to determine the optimum delay using Akaike criteria for all-time series analyzed. Then the presence of a unit root is analyzed using the Dickey - Fuller test. Based on the test results, time series are excluded which appear to be stationary. If the conditions are met, testing then continued with the Engle - Granger test to detect cointegration relations, which would determine a long-term relationship between selected variables. Based on these tests, it is found that at a significance level of 0.05, doesn´t exist cointegration relationship between M3 and CPI in the Czech Republic. Conclusions resulting from the verification of the hypotheses are supported with graphical visualization of data from which it is apparent that these hypotheses can be rejected.

Druh

D - Stať ve sborníku

CEP obor

—

OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2017

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

New Trends and Issues Proceedings on Humanities and Social Sciences

ISBN

—

ISSN

2547-8818

e-ISSN

neuvedeno

Počet stran výsledku

11

Strana od-do

226-236

Název nakladatele

SciencePark Research, Organization and Counseling

Místo vydání

Kyrenia

Místo konání akce

Girne

Datum konání akce

4. 5. 2017

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

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