Padhan, Hemachandra - 2016
stability demand for money in India and relationship among M3 (Broad money), income level (Y), interest rate (call money) and … exchange rate. The empirical results have analyzed from CUSUM test, CUSUMSQ test, co-integration, and VECM (vector error … 4 also significant which explains the same things like equation 2. The Reserve Bank of India can potentially use M3 …