RDP 2013-01: Currency Demand during the Global Financial Crisis: Evidence from Australia Equation (1)

Δ c t = λ ( c t 1 β X t 1 β 0 ) + i = 1 m δ i Δ c t i + j = 0 n γ j Δ X t j + ε t X t = [ G D P t D e p o s i t R a t e t A T M t P o p t E F T P O S t P o p t B a n k B r a n c h t P o p t S e l f E m p t E m p t ] MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYfdmGievaebbnrfi fHhDYfgasaacH8srps0lbbf9q8WrFfeuY=Hhbbf9v8qqaqFr0xc9pk 0xbba9q8WqFfea0=yr0RYxir=Jbba9q8aq0=yq=He9q8qqQ8frFve9 Fve9Ff0dmeaabaqaciGacaGaaeqabaWaaeaaeaaakqaabeqaaiabfs 5aejaadogadaWgaaWcbaGaamiDaaqabaGccqGH9aqpcqaH7oaBdaqa daqaaiaadogadaWgaaWcbaGaamiDaiabgkHiTiaaigdaaeqaaOGaey OeI0IaeqOSdiMaamiwamaaBaaaleaacaWG0bGaeyOeI0IaaGymaaqa baGccqGHsislcqaHYoGydaWgaaWcbaGaaGimaaqabaaakiaawIcaca GLPaaacqGHRaWkdaaeWbqaaiabes7aKnaaBaaaleaacaWGPbaabeaa kiabfs5aejaadogadaWgaaWcbaGaamiDaiabgkHiTiaadMgaaeqaaa qaaiaadMgacqGH9aqpcaaIXaaabaGaamyBaaqdcqGHris5aOGaey4k aSYaaabCaeaacqaHZoWzdaWgaaWcbaGaamOAaaqabaGccqqHuoarca WGybWaaSbaaSqaaiaadshacqGHsislcaWGQbaabeaaaeaacaWGQbGa eyypa0JaaGimaaqaaiaad6gaa0GaeyyeIuoakiabgUcaRiabew7aLn aaBaaaleaacaWG0baabeaaaOqaaiaadIfadaWgaaWcbaGaamiDaaqa baGccqGH9aqpdaWadaqaaiaadEeacaWGebGaamiuamaaBaaaleaaca WG0baabeaakiaaykW7caWGebGaamyzaiaadchacaWGVbGaam4Caiaa dMgacaWG0bGaamOuaiaadggacaWG0bGaamyzamaaBaaaleaacaWG0b aabeaakmaalaaabaGaamyqaiaadsfacaWGnbWaaSbaaSqaaiaadsha aeqaaaGcbaGaamiuaiaad+gacaWGWbWaaSbaaSqaaiaadshaaeqaaa aakmaalaaabaGaamyraiaadAeacaWGubGaamiuaiaad+eacaWGtbWa aSbaaSqaaiaadshaaeqaaaGcbaGaamiuaiaad+gacaWGWbWaaSbaaS qaaiaadshaaeqaaaaakmaalaaabaGaamOqaiaadggacaWGUbGaam4A aiaadkeacaWGYbGaamyyaiaad6gacaWGJbGaamiAamaaBaaaleaaca WG0baabeaaaOqaaiaadcfacaWGVbGaamiCamaaBaaaleaacaWG0baa beaaaaGcdaWcaaqaaiaadofacaWGLbGaamiBaiaadAgacaWGfbGaam yBaiaadchadaWgaaWcbaGaamiDaaqabaaakeaacaWGfbGaamyBaiaa dchadaWgaaWcbaGaamiDaaqabaaaaaGccaGLBbGaayzxaaaaaaa@AD31@