Bahmani-Oskooee, Mohsen; Ng, Raymond Chi Wing - In: International Journal of Business and Economics 1 (2002) 2, pp. 147-155
We examine the long-run demand for money of Hong Kong using the autoregressive distributed lag (ARDL) cointegration procedure on quarterly data over the period 1985Q1-1999Q4. Estimation results suggest that HK$M2 is cointegrated with its determinants. In addition, the CUSUM and CUSUMSQ tests...
