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Publication Type
Journal Article
UWI Author(s)
Author, Analytic
Ghartey, Edward, E
Author Affiliation, Ana.
Department of Economics
Article Title
Money demand in Jamaica: Evidence from cointegration, error correction modelling, and exogeneity
Medium Designator
n/a
Connective Phrase
n/a
Journal Title
The North American Journal of Economics and Finance
Translated Title
n/a
Reprint Status
Refereed
Date of Publication
1998
Volume ID
9
Issue ID
1
Page(s)
33-43
Language
n/a
Connective Phrase
n/a
Location/URL
n/a
ISSN
n/a
Notes
n/a
Abstract
Cointegration test is used to establish a long-run equilibrium relationship among money demand, real income, price, exchange rate, exchange risk, and nominal interest rate. Different estimators are used to estimate the ECR model to study the short-run dynamic adjustment process of the demand for money. Statistically, both the long-run and the ECR model are well specified and significant. The estimates compare favourably with other results elsewhere, and both the long-run and ECR model are stable. The long-run price homogeneity and unit income elasticity exist, with both price and income being weakly and super exogenous.....
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