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Cointegration, structural breaks and the demand for money in Bangladesh

Rao, B. Bhaskara and Kumar, Saten (2007): Cointegration, structural breaks and the demand for money in Bangladesh.

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Abstract

This paper allows for endogenous structural breaks in the cointegration equation and investigates if there is a stable demand for money for Bangladesh. We have used the Gregory and Hansen framework and found that there was an intercept shift and a well- determined and stable demand for money in Bangladesh exists.

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