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Demand for money in Sri Lanka, 1952-2002
Barry Reilly and
Michael Thomas Sumner
Applied Economics Letters , 2008, vol. 15, issue 5, pages 343-347
Abstract:
The key issue in the analysis of demand for money in Sri Lanka is shown to be the specification of opportunity cost. A coherent definition yields stable long-run estimates of the demand function consistent with economic theory for all measures of money.
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