Estimating Money Demand for Ghana

Victor Osei

Growth, 2015, vol. 2, issue 1, 1-9

Abstract: The study suggested that money demand function for Ghana using M1 and M2 remained relatively unstable between 1991 and 2011 as evidenced by trends in recursive residual and the cumulative sums of squared residuals derived from the estimated models. However, real money demand function for broad money (M2+) was found to be stable relative to real money demand functions estimated for M1 and M2 as dependent variables. The study therefore concluded that real money demand function for M1 and M2 remained relatively unstable in Ghana compared with real money demand function for broad money which exhibits some degree of stability.

Keywords: Money supply; Demand; Recursive; Unit root; Cointegration; Stability. (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations:

Downloads: (external link)
http://asianonlinejournals.com/index.php/Growth/article/view/772/800 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aoj:growth:v:2:y:2015:i:1:p:1-9:id:772

Access Statistics for this article

More articles in Growth from Asian Online Journal Publishing Group
Bibliographic data for series maintained by Sara Lim ().