A Cointegration Analysis of Broad Money Demand in Cameroon /

This paper applies cointegration analysis and error-correction modeling to investigate the behavior of broad money demand in Cameroon over 1963/64-1993/94. The cointegrated VAR analysis first describes an open-economy model of money, prices, income, and a vector of rates of return, within which thre...

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Bibliographic Details
Main Author: Nachega, Jean-Claude
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2001.
Series:IMF Working Papers; Working Paper ; No. 2001/026
Online Access:Full text available on IMF
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245 1 2 |a A Cointegration Analysis of Broad Money Demand in Cameroon /  |c Jean-Claude Nachega. 
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300 |a 1 online resource (39 pages) 
490 1 |a IMF Working Papers 
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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 applies cointegration analysis and error-correction modeling to investigate the behavior of broad money demand in Cameroon over 1963/64-1993/94. The cointegrated VAR analysis first describes an open-economy model of money, prices, income, and a vector of rates of return, within which three steady state relations are identified: a stable money demand function, an excess aggregate demand relationship, and the uncovered interest rate relation under fixed exchange rates and perfect capital mobility. Empirical support is thereafter provided for both PPP and the international Fisher parity between Cameroon and France, and the stability of the short-run dynamics of the broad money demand function is confirmed. 
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830 0 |a IMF Working Papers; Working Paper ;  |v No. 2001/026 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2001/026/001.2001.issue-026-en.xml  |z IMF e-Library