On the Dynamic Specification of Money Demand in Kenya
On the Dynamic Specification of Money Demand in Kenya
Recent developments in the theory of dynamic specification are applied to the estimation of the demand for money in post-independence Kenya. The models use a broad specification of the demand function, allowing for parallel market currency substitution effects, from which robust error-correction models of money demand are estimated for a range of standard and Divisia monetary aggregates and are shown to encompass existing studies.
CITATION: Adam, Christopher. On the Dynamic Specification of Money Demand in Kenya . Oxford : Oxford University Press , 1992. Journal of African Economies Volume 1 Issue 2 August 1992 pp. 171-194 - Available at: https://library.au.int/dynamic-specification-money-demand-kenya