Unit roots cointegration and the demand for money in India
AbstractIt is shown that the variables in the demand for money in India are unit root variables. Therefore the long- and short-run money demand functions are estimated using cointegration methods and error correction formulation. It is found that the long-run income and interest rate elasticities are about 1.5 and -0.42 respectively.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics Letters.
Volume (Year): 2 (1995)
Issue (Month): 10 ()
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IDE Discussion Papers
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- Mohsen Bahmani-Oskooee & Hafez Rehman, 2005. "Stability of the money demand function in Asian developing countries," Applied Economics, Taylor & Francis Journals, vol. 37(7), pages 773-792.
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