Abstract
This paper examined the cointegrating properties of narrow money demand. Results suggest income and interest rate are sufficient for the formulation of a long-run stable demand for money in Australia, Austria, Finland, Italy, UK, and US. However, for Canada, Germany, and Switzerland, the nominal effective exchange rate should be incorporated.
Original language | English |
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Pages (from-to) | 84-107 |
Number of pages | 24 |
Journal | Studies in Economics and Finance |
Volume | 19 |
Issue number | 1-2 |
DOIs | |
State | Published - Jan 1 1998 |