According to the Fisher hypothesis, an increase (decrease) in the spread between the long-
term, or multi-period, interest rate and the one-period inflation rate signals an increase …

The study is organized in four parts as follows: In part 1, we survey the theoretical models of
the demand for money and derive a dynamic framework. Part 2 presents the econometric …

Some methods for the evaluation of parameter constancy in cointegrated VAR-models are
discussed. Two different representations of the VAR-model are suggested; one in which all …