Does currency wealth or substitiution effect matters? recent evidence from money demand in China

• Main Authors: Niaz Ahmad, Mohd Naseem, Masron, Tajul Ariffin, A. M., Hafizi, Kamaluddin, F.
• Format: Article
• Language: English
• Published: Universiti Putra Malaysia Press 2020
• Online Access: http://psasir.upm.edu.my/id/eprint/36169/1/5%29%20Does%20Currency%20Wealth.pdf; http://psasir.upm.edu.my/id/eprint/36169/; http://www.ijem.upm.edu.my/vol14no1/5)%20Does%20Currency%20Wealth.pdf

This study investigates the stability of money demand function for China, using an innovation ARDL framework for co-integration test for the time period 1986-2018. Specifically, this study used narrow money (M1) and broad money (M2) as a measurement of money. To consider currency wealth and substitu...