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THE STABILITY OF MONEY DEMAND FUNCTION: RENEWED EVIDENCE FROM NIGERIA

Authors: ONAKOYA Adegbemi , Yakubu, Muhammad Maimuna

Publication Type: Journal article

Journal: Yobe Journal Of Economics (yoje)

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Abstract

This paper empirically analyzed the stability of money demand function in Nigeria using annual time series data on broad money, real GDP growth rate, inflation rate and interest rate from 1992 to 2014. The study employed the use of multiple regression analysis, stationarity test and stability test. The study found out that the plot of the cumulative sum of recursive residuals (CUSUM) provided evidence of stability, the plot of the cumulative sum of squares of recursive residuals (CUSUMSQ), on the other hand, revealed instability of some parameters between 2000 and 2005, and the parameters are stable after the periods. The study concludes that M2 (broad) money demand function is stable in Nigeria for the study period and stood the Nigerian monetary authority in good stead for monetary policy deployment during the study period.

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ONAKOYA,A. Yakubu,,M.M . (0000). THE STABILITY OF MONEY DEMAND FUNCTION: RENEWED EVIDENCE FROM NIGERIA, 3 (), 146-146.

ONAKOYA,A. Yakubu,,M.M . "THE STABILITY OF MONEY DEMAND FUNCTION: RENEWED EVIDENCE FROM NIGERIA" 3, no (), (0000): 146-146.

ONAKOYA,A. and Yakubu,,M.M and . (0000). THE STABILITY OF MONEY DEMAND FUNCTION: RENEWED EVIDENCE FROM NIGERIA, 3 (), pp146-146.

ONAKOYAA, Yakubu,MM, . THE STABILITY OF MONEY DEMAND FUNCTION: RENEWED EVIDENCE FROM NIGERIA. 0000, 3 ():146-146.

ONAKOYA,Adegbemi , and Yakubu,,Muhammad Maimuna . "THE STABILITY OF MONEY DEMAND FUNCTION: RENEWED EVIDENCE FROM NIGERIA", 3 . (0000) : 146-146.

O.Adegbemi & Y.Muhammad Maimuna , "THE STABILITY OF MONEY DEMAND FUNCTION: RENEWED EVIDENCE FROM NIGERIA" vol.3, no., pp. 146-146, 0000.

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