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1998•RePEc: Research Papers in EconomicsOpen access

Error Correction Model of the Demand for Money in Pakistan

Abdul Qayyum

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Abstract

The paper estimated dynamic demand for money (Currency) function for Pakistan. it is concluded that in the long run money demand depends on income, rate of inflation and bond rate. The rate of Inflation and rate of interst on deposits emerged as important determinant of money demand in the short run. Moreover dynamic model remans stable througtout the study period.

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The paper estimated dynamic demand for money (Currency) function for Pakistan. it is concluded that in the long run money demand depends on income, rate of inflation and bond rate. The rate of Inflation and rate of interst on deposits emerged as important determinant of money demand in the short run. Moreover dynamic model remans stable througtout the study period.

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Available abstract

The paper estimated dynamic demand for money (Currency) function for Pakistan. it is concluded that in the long run money demand depends on income, rate of inflation and bond rate. The rate of Inflation and rate of interst on deposits emerged as important determinant of money demand in the short run. Moreover dynamic model remans stable througtout the study period.

Key concepts: Economics, Demand for money, Monetary economics, Inflation (cosmology), Speculative demand, Currency, Demand curve, Error correction model

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