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Money Demand in Mongolia: A Panel Data Analysis

Author

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  • Torsten Sl¯k

    (International Monetary Fund)

Abstract

This paper investigates if there is a significant money demand relationship in Mongolia. The data used is a panel data set covering 22 Mongolian regions over the period 1993-99. The static fixed effect, dynamic fixed effect, and the pooled mean group estimators all confirm the key role of monetary policy in stabilization and reveal that even in a transition economy as rudimentary as Mongolia, a stable money demand exists. In addition, the analysis points to an elasticity of money demand with respect to activity around 0.5, reflecting the larger role for transactions demand for money. Copyright 2002, International Monetary Fund

Suggested Citation

  • Torsten Sl¯k, 2002. "Money Demand in Mongolia: A Panel Data Analysis," IMF Staff Papers, Palgrave Macmillan, vol. 49(1), pages 1-7.
  • Handle: RePEc:pal:imfstp:v:49:y:2002:i:1:p:7
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    Cited by:

    1. Daron Acemoglu & Simon Johnson & Pablo Querubin & James A. Robinson, 2008. "When Does Policy Reform Work? The Case of Central Bank Independence," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 39(1 (Spring), pages 351-429.

    More about this item

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • P24 - Economic Systems - - Socialist Systems and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation

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