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Disaggregated Approach For Modelling Demand For Money In Pakistan

Author

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  • Muhammad Aslam KHAN*
  • Muhammad Farooq ARBY**
  • Muhammad Amin Khan LODHI**

    ()

Abstract

The objective of the paper is to estimate a separate demand function for component of M2 in Pakistan, by using c~integration and error-correction techniques, based on the annual data set for the period of 1971-72 to 1998-99. Results show that currency in circulation and demand deposits are inelastic to interest rates and exchange rates, but highly elastic to income. On the contrary, quasi money is elastic to interest rates and exchange rates ,and inelastic to income changes.

Suggested Citation

  • Muhammad Aslam KHAN* & Muhammad Farooq ARBY** & Muhammad Amin Khan LODHI**, 2000. "Disaggregated Approach For Modelling Demand For Money In Pakistan," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 16, pages 65-77.
  • Handle: RePEc:pje:journl:article2000ii
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    File URL: http://aerc.edu.pk/wp-content/uploads/2017/02/5th-paper-page-65-77-1.pdf
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    Cited by:

    1. Yu Hsing, 2007. "Currency Substitution, Capital Mobility and Functional Forms of Money Demand in Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 12(1), pages 35-48, Jan-Jun.

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