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M1-vector-error-correction model [1 record]

Record 1 2011-12-14

English

Subject field(s)
  • Econometrics
  • Currency and Foreign Exchange
DEF

... an empirical model in which deviations in the money supply from the longterm demand for money cause changes in inflation.

CONT

The M1-Vector-Error-Correction Model (M1-VECM) (Adam and Hendry 2000), another model in use at the Bank [of Canada], formalizes the role played by the monetary aggregates in determining future inflation.

Key term(s)
  • M1 vector error correction
  • M1 VCEM

French

Domaine(s)
  • Économétrie
  • Politique monétaire et marché des changes
DEF

[...] modèle empirique dans lequel les écarts entre l'offre de monnaie et la demande de monnaie à long terme influent sur l'inflation.

CONT

Le modèle vectoriel à correction d'erreurs basé sur M1 (Adam et Hendry, 2000), un autre modèle utilisé à la Banque [du Canada], formalise le rôle joué par les agrégats monétaires dans la détermination de l'inflation future.

Spanish

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