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Demand for money in Sri Lanka, 1952-2002

Barry Reilly and Michael Sumner

Applied Economics Letters, 2008, vol. 15, issue 5, 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.

Date: 2008
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DOI: 10.1080/13504850600705943

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