文章基本信息

标题：The impact of budget deficits on money demand in Jordan:co-integration and vector error correction analysis
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作者：Husni Ali Khrawish ; Ahmad Y.Khasawneh ; Feda'a A.Khrisat 等
期刊名称：Investment Management & Financial Innovations
印刷版ISSN：1810-4967
电子版ISSN：1812-9358
出版年度：2012
卷号：9
期号：2
页码：101-108
语种：English
出版社：LLC “Consulting Publishing Company “Business Perspectives”
摘要：The main objective of this study is to examine the effect of the budget deficit on money demand in Jordan during the period of 1992-2010 using multiple linear regression,co-integration and vector error correction models.The authors also controlled for other macroeconomic variables such as real GDP(RGDP),consumer price index(CPI),real government expenditure(RGE)and interest rate(IR).The co-integration and the multivariate analyses reveal significant and positive long-run relationship between real money demand(RMD)and real GDP(RGDP),real budget deficits (RBD),real internal debt(RID),and real external debt(RED),and negative long-run relationship between RMD and consumer price index(CPI),real government expenditure(RGE)and deposit rate(IR).The vector error correction model reports positive dynamic short-run relationship between real money demand(RMD)and all explanatory va?riables except deposit rate and external debt which is negative.
关键词：budget deficits;money demand;real government expenditure;interest rate;public debt;vector error correc?tion;co-integration.