NDLI: Long- and Short-Run Determinants of the Demand for Money in the Asian-Pacific Countries: An Empirical Panel Investigation

Content Provider	Semantic Scholar
Author	Valadkhani, Abbas
Copyright Year	2008
Abstract	This paper examines the long- and short-run determinants of the demand for money in six countries in the Asian-Pacific region using panel data (1975-2002). Various country-specific coefficients are allowed to capture inter-country heterogeneities. Consistent with theoretical postulates, it is found that (a) the demand for money in the long-run positively responds to real income and inversely to the interest rate spread, inflation, the real effective exchange rate, and the US real interest rate; (b) the long-run income elasticity is greater than unity; and (c) both the currency substitution and capital mobility hypotheses hold only in the long run.
Starting Page	77
Ending Page	90
Page Count	14
File Format	PDF HTM / HTML
Volume Number	9
Alternate Webpage(s)	http://www.aeconf.net/Articles/May2008/aef090103.pdf
Alternate Webpage(s)	https://ro.uow.edu.au/cgi/viewcontent.cgi?article=1396&context=commpapers
Alternate Webpage(s)	http://aeconf.com/Articles/May2008/aef090103.pdf
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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