In recent years, increasing importance of active day-to-day asset-liability management by banks and liquidity management by central banks renders that short-term seasonalities in monetary series should be studied minutely. Currency in circulation is a typical example of such a series that...

The changing business scenario worldwide has transformed the way organizations compete and survive in the global marketplace. Globalization has forced economies to re-look at their organizational structures, core competencies, leadership, culture and strategy formulation and implementation....

In the literature, currency in circulation is typically estimated either by specifying a standard currency demand equation based on the theory of transaction or portfolio demand for money or by a univariate time series model. The paper argues that while these approaches work well for low...