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Financial liberalization and long-run stability of money demand in Nigeria
Folarin, Oludele E.; Asongu, Simplice - 2017
examine the stability of the money demand function in Nigeria after the deregulation of the financial sector. To achieve this … the study show that a long-run relationship holds and that the demand for money is stable in Nigeria. In addition, the … the study is that interest rate is ineffective as a monetary policy instrument in Nigeria. …
Persistent link: https://www.econbiz.de/10011668531
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Currency substitution : evidence from Nigeria
Doguwa, Sani I. - In: CBN journal of applied statistics 5 (2014) 2, pp. 1-23
This paper examines the existence, causes and effects of currency substitution in Nigeria by estimating conventional …
Persistent link: https://www.econbiz.de/10011488762
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Is euro area demand (still) stable? : cointegrated VAR versus single equation techniques
Belke, Ansgar; Czudaj, Robert - 2010
In this paper we present an empirically stable euro area money demand model. Using a sample period until 2009:2 shows that the current financial and economic crisis that started in 2007 does not appear to have any noticeable impact on the stability of the euro area money demand function. We also...
Persistent link: https://www.econbiz.de/10010208785
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A microfounded model of money demand under uncertainty, and some empirical evidence
Größl, Ingrid; Tarassow, Artur - 2018
In this article we derive a microfounded model of money demand under uncertainty built on intertemporally optimizing risk-averse households. Deriving a complete solution of the optimization problem taking the intertemporal budget constraint into account where linearization procedures in our...
Persistent link: https://www.econbiz.de/10011790638
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A microfounded model of money demand under uncertainty, and its empirical validation using cointegration and rolling-window dynamic multiplier analysis
Größl, Ingrid; Tarassow, Artur - 2015
In this article we derive a microfounded model of money demand under uncertainty built on intertemporally optimizing risk-averse households. Deriving a complete solution of the optimization problem taking the intertemporal budget constraint into account leads to ambiguous effects w.r.t. to the...
Persistent link: https://www.econbiz.de/10010520781
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M3 money demand and excess liquidity in the euro area
Dreger, Christian; Wolters, Jürgen - 2010
Recent empirical studies have found evidence of unstable long run money demand functions if recent data are used. If the link between money balances and the macroeconomy is fragile, the rationale of monetary aggregates in the ECB strategy has to be doubted. In contrast we present a "stable''...
Persistent link: https://www.econbiz.de/10011518878
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Money velocity and asset prices in the euro area
Dreger, Christian; Wolters, Jürgen - 2009
of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …
Persistent link: https://www.econbiz.de/10011518893
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M3 money demand and excess liquidity in the euro area
Dreger, Christian; Wolters, Jürgen - 2008
) estimation methods. To obtain the result, the short run homogeneity restriction between money and prices is relaxed. In addition …
Persistent link: https://www.econbiz.de/10011384239
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Money velocity and asset prices in the euro area
Dreger, Christian; Wolters, Jürgen - 2008
of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …
Persistent link: https://www.econbiz.de/10011384244
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A reassessment of money demand in Nigeria
Tule, Moses K.; Okpanachi, Usman M.; Ogiji, Patricks; … - In: CBN journal of applied statistics 9 (2018) 1, pp. 47-75
This paper re-examines broad money (M2) demand and its stability in Nigeria using the Autoregressive Distributed Lag … continued relevance of the broad money aggregate, M2, as a benchmark for monetary policy implementation in Nigeria. …
Persistent link: https://www.econbiz.de/10011922692