TY  - BOOK
AU  - Haas,Richard D.
AU  - Corker,Robert J.
AU  - Haas,Richard D.
TI  - Price Pressure Gaps: An Application of P* Using Korean Data 
T2  - IMF Working Papers; Working Paper
SN  - 1451981724 :
SN  - 1018-5941
PY  - 1991///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Cointegration
KW  - imf
KW  - Equation
KW  - Money Demand
KW  - Time Series
KW  - Korea, Republic of
N2  - This paper presents estimates of a price-pressure indicator for Korea. It does this by constructing measures of how much M2 velocity and output differ from their long-term values. This, in turn, involves estimating a demand for money function in an error correction framework in which interest rates in the unorganized money market help to account for the effects of ongoing financial liberalization. An equation explaining the Korean inflation rate is identified in which both the monetary variable--the velocity gap--and the real variable--the output gap--play important roles
UR  - http://elibrary.imf.org/view/IMF001/05402-9781451981728/05402-9781451981728/05402-9781451981728.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451981728
ER  -