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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/2872

Title: The determinants of the behaviour of the income velocity of money in Portugal 1891-1998: an econometric approach
Authors: Nunes, Ana Bela
St. Aubyn, Miguel
Valério, Nuno
Sousa, Rita Martins de
Keywords: Velocity of money
Portugal
Cointegration
Institutional determinants
Issue Date: 2011
Publisher: ISEG - GHES
Citation: Nunes, Ana Bela ... [et al.]. 2011. "The the determinants of the behaviour of the income velocity of money in Portugal 1891-1998: an econometric approach". Instituto Superior de Economia e Gestão – GHES Documento de Trabalho/Working Paper nº 45-2011
Series/Report no.: GHES Documento de Trabalho/Working Paper;nº 45-2011
Abstract: This paper performs a long-run time series analysis of the behaviour of the income velocity of money in Portugal 1891-1998, and assesses the importance of both macroeconomic and institutional factors in shaping its path. We look for particularities of the Portuguese case in the international context. By means of a cointegrated vector autoregression, we find that institutional variables matter. Moreover, regression analysis shows that the general U-shaped pattern is displayed with the inflection point located in 1973, in line with the Spanish case.
URI: http://hdl.handle.net/10400.5/2872
Appears in Collections:DCS - Documentos de trabalho / Working Papers
GHES - Documentos de Trabalho / GHES - Working papers

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