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GODWIN NWAOBI |
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''A vector error correction and nonnested modeling of money demand function in Nigeria'' |
( 2002, Vol. 3 No.4 ) |
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This paper examines the stability of the demand for money in Nigeria. With relatively simple model specifying a vector valued autoregressive process(VAR),the money demand function was found to be stable and evidence gathered from the non-nested tests suggest that income is the more appropriate scale variable in the estimation of money demand function in Nigeria. |
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Keywords: consumption |
JEL: C5 - Econometric Modeling: General E4 - Money and Interest Rates: General |
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Manuscript Received : Mar 10 2002 | | Manuscript Accepted : Mar 10 2002 |
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