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Unit roots cointegration and the demand for money in India

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  • B. Bhaskara Rao
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    Abstract

    It 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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    File URL: http://www.informaworld.com/openurl?genre=article&doi=10.1080/758518999&magic=repec&7C&7C8674ECAB8BB840C6AD35DC6213A474B5
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

    Volume (Year): 2 (1995)
    Issue (Month): 10 ()
    Pages: 397-399

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    Handle: RePEc:taf:apeclt:v:2:y:1995:i:10:p:397-399

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    Cited by:
    1. Takeshi Inoue & Shigeyuki Hamori, 2009. "An Empirical Analysis of the Money Demand Function in India," Economics Bulletin, AccessEcon, vol. 29(2), pages 1224-1245.
    2. Bahmani-Oskooee, Mohsen & Tanku, Altin, 2006. "Black market exchange rate, currency substitution and the demand for money in LDCs," Economic Systems, Elsevier, vol. 30(3), pages 249-263, October.
    3. 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.
    4. Singh, Rup & Kumar, Saten, 2007. "Application of the Alternative Techniques to Estimate Demand for Money in Developing Countries," MPRA Paper 19295, University Library of Munich, Germany.

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