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A cointegration and error correction approach to demand for money in Fiji, 1971-2002

CollectionsPacific Economic Bulletin (1991-2010)
Title: A cointegration and error correction approach to demand for money in Fiji, 1971-2002
Author(s): Bhaskara Rao, B.
Singh, Rup
Publisher: Crawford School of Public Policy, The Australian National University
Asia Pacific Press
Description: 
Demand for money is an important macroeconomic relationship. Its stability has implications for the choice of monetary policy targets. This paper estimates demand for narrow money in Fiji and evaluates its robustness and stability. It is found that there is a well determined stable demand for money in Fiji, for three decades, from 1971 to 2002 and its dynamics are adequately captured by the cointegration and error- correction models. Income and interest rate elasticities are found to be significant
URI: http://hdl.handle.net/1885/157777
ISSN: 1834-9455 (online)
0817-8038 (print)

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