Long-run estimates of money demand in Romania

This paper estimates the long-run demand for money in Romania using monthly data from January 1994 to August 2003. The Johansen-Juselius cointegration procedure provides evidence of one cointegrating vector for both narrowly and broadly defined money demand functions. Real money balances are not only sensitive to real income, but also the domestic interest rate and the depreciation of the domestic currency.

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Year of publication:	2004
Authors:	Andronescu, Andreea ; Mohammadi, Hassan ; Payne, James
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 11.2004, 14, p. 861-864
Publisher:	Taylor & Francis Journals

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005629305