DNFDDomestic Non-Financial Debt
Copyright 1988-2018 AcronymFinder.com, All rights reserved.
References in periodicals archive ?
While some (Friedman and Kuttner, American Economic Review, 1992) address whether money and credit separately are cointegrated with other variables, the current study finds that the natural logs of Ml, domestic nonfinancial debt (DNFD), real GDP, and the implicit deflator together are cointegrated.
However, when using undifferenced "log levels" of all four variables [with DNFD being I(2) unlike the other I(1) variables] in seasonally adjusted form, the study finds cointegration only at confidence levels somewhat greater than 5% if a time trend is not in the cointegrating equation.
When specifying a VEC model with the second difference of DNFD and the first difference of the other variables, under both trend assumptions; changes in Ml, real GDP, and the deflator Granger cause changes in the first difference of DNFD at the 10% level and generally at the 5% level.