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.
Volume (Year): 3 (2002)
Issue (Month): 4 ()
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