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2 edition of cointegration analysis of broad money demand in Cameroon found in the catalog.

cointegration analysis of broad money demand in Cameroon

Jean-Claude Nachega

cointegration analysis of broad money demand in Cameroon

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Published by International Monetary Fund, African Department in [Washington, D.C.] .
Written in English

    Subjects:
  • Demand for money -- Cameroon -- Econometric models.,
  • Money supply -- Cameroon -- Econometric models.,
  • Inflation (Finance) -- Cameroon -- Econometric models.,
  • Foreign exchange rates -- Cameroon -- Econometric models.

  • Edition Notes

    StatementJean-Claude Nachega.
    GenreEconometric models.
    SeriesIMF working paper -- WP/01/26
    ContributionsInternational Monetary Fund. African Dept.
    The Physical Object
    Pagination38 p. :
    Number of Pages38
    ID Numbers
    Open LibraryOL18980025M


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cointegration analysis of broad money demand in Cameroon by Jean-Claude Nachega Download PDF EPUB FB2

This paper applies cointegration analysis and error-correction modeling to investigate the behavior of broad money demand in Cameroon over // The cointegrated VAR analysis first describes an open-economy model of money, prices, income, and a vector of rates of return, within which three steady state relations are identified: a stable money demand function, an excess.

Abstract: This paper applies cointegration analysis and error-correction modeling to investigate the behavior of broad money demand in Cameroon over // The cointegrated VAR analysis first describes an open-economy model of money, prices, income, and a vector of rates of return, within which three steady state relations are Cited by: Get this from a library.

A cointegration analysis of broad money demand in Cameroon. [Jean-Claude Nachega; International Monetary Fund. African Department.] -- 1. Finding a stable money demand function is generally considered essential for the formulation and conduct of efficient monetary policy.

Hence, considerable effort has been made in the empirical. This paper applies cointegration analysis and error-correction modeling to investigate the behavior of broad money demand in Cameroon over // TheCited by:   Author of A cointegration analysis cointegration analysis of broad money demand in Cameroon book broad money demand in Cameroon, Fiscal dominance and inflation in the Democratic Republic of the Congo, Economic growth and total factor productivity in Niger, Financial liberalization, money demand, and inflation in Uganda.

This paper applies cointegration analysis and error-correction modeling to investigate the behavior of broad money demand in Cameroon over // The cointegrated VAR analysis first describes an open-economy model of money, prices, income, and a vector of rates of return, within which three steady state relations are identified: a.

inflation is significant determinant of money demand in Pakistan. The analysis reveals that the rates of interest, market rate, and bond yield are important for the cointegration analysis of broad money demand in Cameroon book money demand performance.

Ranani () estimated the demand for money in Iran using the autoregressive distributed lag (ARDL) approach to cointegration analysis. Cointegration results indicate that a single co-integrating vector describes the long-run equilibrium money demand relationship in Bangladesh for both the narrow and broad money categories.

This paper deploys the Johansen cointegration approach to investigate the presence of a long-run broad money demand relationship in Australia, using annual data for the period (). Demand for money in Bangladesh: a cointegration analysis.

Applied Economics: Vol. 32, No. 15, pp. "A Cointegration Analysis of Broad Money Demand in Cameroon," IMF Working Papers 01/26, International Monetary Fund.

Gonzalo, Jesus, " Five alternative methods of estimating long-run equilibrium relationships," Journal of Econometrics, Elsevier, vol. 60(), pages Title: A Cointegration Analysis of Broad Money Demand in Cameroon - WP/01/26 Created Date: 4/11/ AM. Cointegration analysis and error-correction modeling show that a stable and predictable aggregate demand for broad money holds for the group of countries participating in the Exchange Rate Mechanism (ERM) of the European Monetary System.

This result seems robust to different econometric techniques, samples, and methods of conversion of national variables into ECU. Here Ý Ý ç represent country specific shocks to money preference parameters, Û, > ç are identical across countries.

For panel cointegration analysis equation () is our empirical money demand model where I å Ý ç=Broad money (M3) L ä Ý ç=GDP deflator U ä Ý ç=Real GDP. Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service.

Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content. This paper applies cointegration analysis and error-correction modeling to investigate the behavior of broad money demand in Cameroon over // A Cointegration Analysis of Broad.

A Cointegration Analysis of Broad Money Demand in Cameroon. International Monetary Fund Working Paper 01/ (). Applied Econometric Time Series. Broad Money Demand and Financial Liberalization in Greece. In the asymmetry analysis, Alsamara et al.

investigate the effects of oil price changes on the money demand by utilizing quarterly series of a period – They find the asymmetric effects of rising and falling oil prices on the money demand and report that positive shocks in oil price exhibit greater impact than that of negative shocks.

The broad money (M2) consists of M1, time deposits at the commercial banks, savings deposits, money market deposit accounts, money market mutual fund balances, and overnight repurchase agreements. Several empirical studies exclusively estimated the demand for M1, as M2 was considered to be incapable of bringing out the full effects of rate of.

This paper empirically analyses India's money demand function during the period to using quarterly data. Cointegration test suggests that money demand represented by M1 and Interest Rate have a unit root, whereas in the presence of structural break both of the variables are found to be stationary which implies that shocks are temporary in nature.

Corpus ID: Determinants Of Money Demand In Kenya @inproceedings{KipsangDeterminantsOM, title={Determinants Of Money Demand In Kenya}, author={Bett J Kipsang}, year={} }. This study empirically examines the broad money (M3) money demand function in Indian economy by using a robust Autoregressive Distributed Lag (ARDL) model suggested by Pesaran et al.

(J Appl Econom –, ). It uses annual data on GDP per-capita, exchange rate and inflation for a period of 41 years from onwards. A thorough understanding of money, reasons for its demand and most importantly factors influencing their stability, will provide an insight into whether money demand is stable.

In the analysis of Keynes ( & ), the demand for money focused on the motives that prompted people to hold cash balances.

Augustine C. Arize, John Malindretos and Steven S. Shwiff, Structural breaks, cointegration, and speed of adjustment Evidence from 12 LDCs money demand, International Review of Economics &.

Nachega, J. () ‘A cointegration analysis of broad money demand in Cameroon’, IMF Working Paper 01/26 (Washington DC: International Monetary Fund). Nell, K. () ‘The stability of M3 money demand and monetary growth targets: The case of South. Cointegration tests (Johansen method) are used to test the hypothesis of a stationary long-run money demand function.

A detailed analysis of the concept of cointegration is provided in Engle and Granger (), Johansen and Juselius (), and Dickey, Jansen and Thornton (). Wound Care in Cameroon. Nov Prior to the pandemic, wound care growth was driven by demand for diabetic foot conditions, ulcers, general wounds, cuts and burns.

After seeing fluctuating growth over the review period, wound care is anticipated to benefit from the pandemic in the estimated money demand model provides important foundations for monetary policy setting in Nigeria.

Key words: Demand for money, Structural breaks, Cointegration JEL Classification: C33, E41 Introduction The stability of the money demand function is crucial for any credible monetary policy.

Get this from a library. Financial liberalization, money demand, and inflation in Uganda. [Jean-Claude Nachega; International Monetary Fund. African Department.] -- This paper uses cointegration analysis to investigate the empirical relationship among money, prices, income, and a vector of interest rates in Uganda from to Despite the substantial.

Klacek and Smidkova () estimated the long-run demand for broad and narrow money in the Czech demand for money they used real M1. The cointegration analysis shows that there is a strong cointegration Liquidity Preference Theory of Money Demand Keynes in his famous book. The results from the Chow, CUSUM and CUSUMSQ revealed that broad money demand for the most part of the s was stable however; narrow money was unstable during the period to He therefore concluded that, the instability recorded must be as a result of financial sector reforms in the s in Bangladesh.

Hwang (), as they suggest that the money demand function using the M2 aggregate and long-run interest rate presents the best VECM results.

Conceptual Model Money Demand Function Following the lead of Hwang (), this paper uses a simple monetarist money demand function. The study investigated the relationship among remittances, financial development and economic growth in a panel of 20 sub-Saharan African countries over the period of and The study used both Pooled Mean Group and Mean Group/ARDL estimations with panel unit root and cointegration tests.

After establishing cointegration, remittances and financial development were. This chapter assesses the empirical merits of PcGets and Autometrics — two recent algorithms for computer-automated model selection — using them to improve upon Kamin and Ericsson's () model of Argentine broad money demand.

According to this approach a change in reserve holdings is related to the disequilibrium in the domestic money market. Foreign exchange reserves will increase when there is an excess demand for money, given that domestic credit is constant; and conversely foreign exchange reserves will decrease if there is an excess supply of money.

To understand the significance the money demand function in Malaysia, Ali & Abdul-Manap () conducted an empirical enquiry into the stability of money demand functions using both M1 and M2.

From the study; cointegrating equations were established between the monetary aggregates (M1 and M2) and their determinants. This paper focuses on exploring the conduit through which wealth, aggregated by broad money supply, affects the real private consumption in the Saudi economy.

In other words, the relationship between money supply (proxy of wealth), among other variables, and the real private consumption function. This study covers the period of The short and long-run. reform on money demand, and the causal relationship between monetary ag-gregate and some other macroeconomic variables.

In the study, they use [1] quarterly data over the period of QQ4 and employ CUSUM and CUSUMSQ stability tests in bounds testing approach for cointegration to ana-lyze money demand in China. For decades, African economies have embarked on financial sector reforms.

However, the empirical implications of these reforms have been divergent. This paper investigates the impact of financial development on Economic growth using time series data in Cameroon. This investigation was carried out using three common indicators of financial development (broad money, deposit/GDP and.

The demand for M3 in the euro area. Juan Vega and Günter Coenen () No 6, Working Paper Series from European Central Bank. Abstract: In this paper, an empirically stable money demand model for M3 in the euro area is constructed.

Starting with a multivariate system, three cointegrating relationships with economic content are found: (i) the. Johansen, S. & Juselius, K. (). Maximum likelihood estimation and inference on cointegration with applications to the demand for money.

Oxford Bulletin of .loans. Thus, money demand must change for money market to return to equilibrium condition. Therefore, we postulate that changes in the cost of borrowing or credit are likely to affect the demand for money. This paper is organised as follows. Section 2 highlights existing .Prices in India: A Causality Analysis Abstract This study attempts to investigate the direction of casualty between food prices and money supply in the static and dynamic framework.

We found that narrow measure of money supply (M1) Granger causes food inflation while broad measure of money supply (M3) does not in the static framework.