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| Author: | Hagen, J. von |
| Title: | Operating targets and information variables in money multiplier forecasting. |
| Journal: | Weltwirtschaftliches Archiv
1990 : VOL. 126:4, p. 643-661 |
| Index terms: | MONETARY THEORY MONEY SUPPLY CENTRAL BANKS |
| Language: | eng |
| Abstract: | The weak point of money demand forecasting is the velocity of money. Models in the past estimated this velocity relying exclusively on past data. The author suggests an improved model of velocity forecasting which includes also information on present monetary policy (monetary data of money supply are combined with weekly data on interest rates). The new model performs well on 1975-86 US data. |
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