Economic Uncertainty, Monetary Uncertainty, and the Demand for Money in Africa
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Economic Uncertainty, Monetary Uncertainty, and the Demand for Money in Africa
Bahmani-Oskooee, Mohsen | Kones, Alice
Applied Economics Quarterly, Vol. 60(2014), Iss. 4 : pp. 293–313 | First published online: October 03, 2017
6 Citations (CrossRef)
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Department of Economics and The Center for Research on International Economics, The University of Wisconsin-Milwaukee, Milwaukee, Wisconsin 53201.
Department of Economics, The University of Wisconsin-Milwaukee, Milwaukee, Wisconsin 53201.
Cited By
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ECONOMIC UNCERTAINTY, MONETARY UNCERTAINTY, AND THE DEMAND FOR MONEY IN AFRICA: AN ASYMMETRY ANALYSIS
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Asymmetric effects of exchange rate changes on the demand for money in Africa
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Policy Uncertainty and the Demand for Money in Australia: an Asymmetry Analysis
Bahmani‐Oskooee, Mohsen | Nayeri, Majid MakiAustralian Economic Papers, Vol. 57(2018), Iss. 4 P.456
https://doi.org/10.1111/1467-8454.12127 [Citations: 30] -
Policy Uncertainty and the Demand for Money in Korea: An Asymmetry Analysis
Bahmani-Oskooee, Mohsen | Nayeri, Majid MakiInternational Economic Journal, Vol. 32(2018), Iss. 2 P.219
https://doi.org/10.1080/10168737.2018.1481129 [Citations: 11] -
The asymmetric impact of economic policy uncertainty on global retail energy markets: Are the markets responding to the fear of the unknown?
Ogbuabor, Jonathan E. | Ukwueze, Ezebuilo R. | Mba, Ifeoma C. | Ojonta, Obed I. | Orji, AnthonyApplied Energy, Vol. 334(2023), Iss. P.120671
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Asymmetries in multi-target monetary policy rule and the role of uncertainty: Evidence from China
Long, Shaobo | Zuo, Yulan | Tian, HaoEconomic Analysis and Policy, Vol. 80(2023), Iss. P.278
https://doi.org/10.1016/j.eap.2023.08.013 [Citations: 1]
Abstract
Due to economic and monetary uncertainty individuals are expected to allocate their portfolio towards holding money and alternative forms of assets. Following the literature on money demand, we test the impact of economic and monetary uncertainty on the demand for money in 21 African nations. By relying upon quarterly data, GARCH-based measures of uncertainty, and bounds testing approach we find that the impact of both measures are mostly transitory in many of the African countries and do not last into long run. Furthermore, by including the two uncertainty measures we found that the demand for money in every African nation is stable.
JEL Classification: E41