Showing 1 - 10 of 1,049
models the empirical relationship between broader definition of money, output, interest rates, inflation and exchange rate in … liberalization. The analysis suggests that, in Romania in the long run the inflation is weakly exogenous for the money demand, which … means that inflation is not a monetary phenomenon. …
Persistent link: https://www.econbiz.de/10005786947
This paper examines the long run dynamics of Mexico’s money demand using Johansen’s cointegration approach with …
Persistent link: https://www.econbiz.de/10005787175
The study estimates the dynamic demand for money (M2) function in Pakistan by employing cointegration analysis and … interventions. It is found that the rate of inflation is an important determinant of money demand in Pakistan. The analysis reveals …
Persistent link: https://www.econbiz.de/10005835602
. They are integrated of order one. Further it is concluded that the one cointegration relationship between money demand and … its determinants. The rate of inflation emerged as important determinant of real money balances demand by the business …
Persistent link: https://www.econbiz.de/10005836173
The aim of this paper is to investigate the currency substitution phenomenon in Romania. We present the evolution of the DI (Dollarization Index) as it is defined by the IMF, the situation on the liabilities side and that of the banking sector. We assess the way in which the traditional...
Persistent link: https://www.econbiz.de/10008493587
to obtain estimates for the welfare cost of inflation. Using the Johansen technique, the research estimates a log … inflation for Zimbabwe ranges between 0.9% and 23.4% of GDP for a band of 10 to 300% of inflation in the case of estimations …
Persistent link: https://www.econbiz.de/10008560958
The paper provides estimate of money (M2) demand for business sector in Pakistan. By using cointegartion analysis and erropr correction mechanism the study found that business sectors money demand behaviour is completely different from the aggregate money demand function. The rate of interest on...
Persistent link: https://www.econbiz.de/10005260062
money demand depends on income, rate of inflation and bond rate. The rate of Inflation and rate of interst on deposits …
Persistent link: https://www.econbiz.de/10005260334
This paper presents an empirical investigation into the level and stability of money demand (M1) in Nigeria between 1960 and 2008. In addition to estimating the canonical specification, alternative specifications are presented that include additional variables to proxy for the cost of holding...
Persistent link: https://www.econbiz.de/10008684880
Estimates of the demand for money provide important foundations for monetary policy setting but if the estimation technique does not explicitly account for structural changes then such estimates will be biased. This paper presents an investigation into the level and stability of money demand...
Persistent link: https://www.econbiz.de/10008765926