Work

A Cointegration and Error Correction Approach to Demand for Money in Fiji: 1971-2002

Year: 2004

Type: preprint

Abstract: Demand for money is an important macroeconomic relationship. Its stability has implications for the choice of monetary policy targets. This paper estimates demand for narrow money in Fiji and evaluates its robustness and stability. It is found that there is a well determined stable demand for money in Fiji, for three decades, from 1971 to 2002 and its dynamics are adequately captured by the cointegration and error- correction models. Income and interest rate elasticities are found to be significant.

Source: RePEc: Research Papers in Economics

Authors: B. Bhaskara Rao, Rup Singh

Language: English

Topic: Monetary Policy and Economic Impact

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W1529513459

Cites: 16

Cited by: 18

Related to: 10