Demand for M2 in an Emerging-Market Economy : An Error-Correction Model for Malaysia /

This paper analyses demand for M2 in Malaysia from August 1973 to December 1995 under both the closed- and open-economy framework. Based on the cointegration and weak-exogeneity test results, short-run dynamic error-correction models are specified and estimated. The results indicate that the demand...

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Detalles Bibliográficos
Autor principal: Sriram, Subramanian
Formato: Revista
Lenguaje:English
Publicado: Washington, D.C. : International Monetary Fund, 1999.
Colección:IMF Working Papers; Working Paper ; No. 1999/173
Acceso en línea:Full text available on IMF
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100 1 |a Sriram, Subramanian. 
245 1 0 |a Demand for M2 in an Emerging-Market Economy :   |b An Error-Correction Model for Malaysia /  |c Subramanian Sriram. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 1999. 
300 |a 1 online resource (49 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper analyses demand for M2 in Malaysia from August 1973 to December 1995 under both the closed- and open-economy framework. Based on the cointegration and weak-exogeneity test results, short-run dynamic error-correction models are specified and estimated. The results indicate that the demand is for real M2. Both the long- and short-run models are well-specified and are fairly stable. The long-run income elasticity is close to one with the opportunity cost variables carrying the expected signs. The external events have some influence on the stability. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 1999/173 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/1999/173/001.1999.issue-173-en.xml  |z IMF e-Library