Unit roots cointegration and the demand for money in India

B. Rao

Applied Economics Letters, 1995, vol. 2, issue 10, 397-399

Abstract: It is shown that the variables in the demand for money in India are unit root variables. Therefore the long- and short-run money demand functions are estimated using cointegration methods and error correction formulation. It is found that the long-run income and interest rate elasticities are about 1.5 and -0.42 respectively.

Date: 1995
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DOI: 10.1080/758518999

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