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 models are presented that include additional variables to proxy for the cost of holding money....

Wagner's Law states that the share of government expenditure in Gross National Product (GNP) will increase with economic development; many associated empirical studies substitute GNP with Gross Domestic Product (GDP). This article presents an empirical investigation into the validity of Wagner's...

This article presents the details of an investigation into the relationship between investment and savings in Australia over the period 1960 to 2007. Using five time series techniques our results reveal that the Feldstein--Horioka puzzle exists in a weak form, with a lower saving retention...

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...

Monetary policy in Nigeria aims is to achieve price and monetary stability. During the 1980s and 1990s, monetary targeting was the dominant monetary policy framework in Nigeria. However, in 2006 the Central Bank of Nigeria (CBN) adopted the new monetary policy framework through which short-term...

This paper presents a chronological, adaptive and reflective investigation into students’ perceptions of and motivations for choosing to study economics. Applications of multiple techniques to student-level primary data reveal the following. First, students’ perceptions of economics are on...

Recent literature suggests that inter-sectoral structural change has a negligible impact on aggregate productivity growth. Through the application of dynamic shift-share methods, this paper presents an empirical re-examination of this perspective using data for 181 European regions from 1980 to...

This paper examines productivity dynamics at different spatial scales across European countries. Application of non-parametric simultaneous estimation techniques to a hierarchical dataset permits us to consider explicitly the extent to which the national-level is important for understanding...