A vector error correction and nonnested modeling of money demand function in Nigeria

This paper examines the stability of the demand for money in Nigeria. With relatively simple model specifying a vector valued autoregressive process(VAR),the money demand function was found to be stable and evidence gathered from the non-nested tests suggest that income is the more appropriate scale variable in the estimation of money demand function in Nigeria.

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Year of publication:	2002-03-10
Authors:	NWAOBI, GODWIN
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 3.2002, 4, p. 1-8
Publisher:	AccessEcon
Subject:	consumption

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Extent:	application/pdf
Type of publication:	Article
Classification:	C5 - Econometric Modeling ; E4 - Money and Interest Rates
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005416886