This study sets out to model non-bank public's desired holdings of five different measures of money in the Nigerian economy. These are currency outside banks (COB), demand deposits (DD), narrow money (M1), quasi money (QM), and broad money (M2).The study addresses many of the pitfalls involved...

This paper distils the key lessons from a comparison of the qualitative and quantitative attributes of the empirical models recovered for M1 and DD (see Teriba (2006a and b)), with emphasis on the tradeoffs that the two models present for policy makers. Highlights: Similarities a. Domestic...

This paper extends the empirical research strategy developed for modeling demand for M1 in Nigeria in Teriba (2006a) to one of its two sub-components, currency outside banks (COB). However, none of our findings for M1 stand up for COB. Specifically, the long run equilibrium relationship between...