Long-Run Demand for Money in Hong Kong: An Application of the ARDL Model
We examine the long-run demand for money of Hong Kong using the autoregressive distributed lag (ARDL) cointegration procedure on quarterly data over the period 1985Q1-1999Q4. Estimation results suggest that HK$M2 is cointegrated with its determinants. In addition, the CUSUM and CUSUMSQ tests confirm the stability of the money demand function.
Volume (Year): 1 (2002)
Issue (Month): 2 (August)
|Contact details of provider:|| Postal: |
Web page: http://www.ijbe.org/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Pesaran, M. H. & Shin, Y. & Smith, R. J., 1996. "Testing for the 'Existence of a Long-run Relationship'," Cambridge Working Papers in Economics 9622, Faculty of Economics, University of Cambridge.
- Mohammad Hashem Pesaran & Yongcheol Shin & Richard J Smith, 1999.
"Bounds Testing Approaches to the Analysis of Long Run Relationships,"
ESE Discussion Papers
46, Edinburgh School of Economics, University of Edinburgh.
- Pesaran, M. Hashem & Shin, Y. & Smith, R.J., 1999. "Bounds Testing Approaches to the Analysis of Long-run Relationships," Cambridge Working Papers in Economics 9907, Faculty of Economics, University of Cambridge.
- Bahmani-Oskooee, Mohsen & Techaratanachai, Ampa, 2001. "Currency substitution in Thailand," Journal of Policy Modeling, Elsevier, vol. 23(2), pages 141-145, February.
- Marquez, Jaime, 1987. "Money demand in open economies: A currency substitution model for Venezuela," Journal of International Money and Finance, Elsevier, vol. 6(2), pages 167-178, June.
- repec:fth:inseep:9645 is not listed on IDEAS
When requesting a correction, please mention this item's handle: RePEc:ijb:journl:v:1:y:2002:i:2:p:147-155. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Yi-Ju Su)
If references are entirely missing, you can add them using this form.