English, Article, Journal or magazine article edition: Structural Break, Stability and Demand for Money in India Prakash Singh; Manoj K. Pandey

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Bookmark: http://trove.nla.gov.au/version/16233
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Structural Break, Stability and Demand for Money in India
Author
  • Prakash Singh
  • Manoj K. Pandey
Physical Description
  • preprint
Notes
  • This paper attempts to take a meticulous look on stability of money demand in India Using annual data for period 1953-2007 and the Hansen (1992) and Gregory Hansen (1996) co-integration approaches with structural break. Results of the Gregory Hansen (1996) cointegration analysis show the presence of cointegration in demand for money, real GDP and nominal interest rate with structural break at 1965. Further, study also suggests for downward shift of about 0.33% around 1965 in the demand for money function and put forward that demand for money is stable except for the period of 1975-1998.
  • Money demand, Cointegration with structural break, Stability, Choice of monetary instrument
  • RePEc:pas:asarcc:2009-07
Language
  • English
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