A Nonlinear Specification of Demand for Narrow Money in Colombia

Borradores de Economia
Número: 
135
Publicado: 
Clasificación JEL: 
E41, C22, C52
Palabras clave: 
Demand, Money, Colombia

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A nonlinear smooth transition regression (STR) model of the demand for narrow money in Colombia is specified using monthly data for cash, prices, the scale variable (industrial GDP), the interest rate and the rate of depreciation, within the single equati