Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/82378
Authors: 
Andersen, Alan Bødskov
Year of Publication: 
2004
Series/Report no.: 
Danmarks Nationalbank Working Papers 18
Abstract: 
This paper investigates the money demand in Denmark in the period 1980-2002 using quarterly data. Within the framework of a cointegrated vector autoregression model an empirical long-run money demand relation is identified and analysed. Nominal money demand is shown to be a function of domestic demand and the difference between money's own rate of return and a long-term foreign placements is no longer significant in the long-run relation. This result can be interpreted as being a conseqquence of increasing credibility of the fixed exchange rate system pursued by the Danish monetary authorities during the period under consideration.
Subjects: 
money demand
co-integration
Document Type: 
Working Paper

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