The Demand for Money in Argentina 1978–1987: Before and After the Austral Program
阿根廷 1978—1987 年货币需求:奥斯特拉尔计划前后
In this study, a monthly money-demand function for Argentina is estimated for a period that ends one month before the austral program (May 1985). The performance of the traditional econometric approach is compared with the new cointegration approach to time series econometrics. The comparison is carried out by a postsample forecast of the demand for money for a period of two years after the stabilization (until July 1987). The cointegration approach is found superior to the…