Abdul Karim, Zulkefly and Jusoh, Mansor and Khalid, Norlin (2008): Halaju wang di Malaysia : bukti empirik. Published in: International Journal of Management Studies (IJMS) , Vol. 17, No. 1 (June 2010): 149170.

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Abstract
This paper aims to examine the volatility of money velocity and also to estimate the velocity of money function in Malaysia by using the quarterly time series data. This study employed the recent econometric techniques such as volatility model in ARCH and GARCH framework, Johansen co integration test and Vector Error Correction Model (VECM). The results show that the velocity of money for M1 (V1) and M2 (V2) are volatile and persistence rather than M3 (V3). The Johansen co integration test result indicates that the existence of long run relationship between velocity of money V1, V2 and V3 on the dependent variables, such as bond interest rate, deposit rate and income. Furthermore, the VECM result showed that the changes in dependent variables such as bond interest rate, deposit rate and income are significantly to influence the changes in velocity of money for V2 and V3 in the long run. Conversely, in the short run, a change in the national income has only significantly to cause the changes in the velocity of money V2 and V3, while the interest rate has significant effect to cause the velocity of money V3.
Item Type:  MPRA Paper 

Original Title:  Halaju wang di Malaysia : bukti empirik 
English Title:  The velocity of money in Malaysia : empirical evidence 
Language:  Malay 
Keywords:  Velocity of money, volatility, time series techniques 
Subjects:  C  Mathematical and Quantitative Methods > C3  Multiple or Simultaneous Equation Models ; Multiple Variables > C32  TimeSeries Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes ; State Space Models E  Macroeconomics and Monetary Economics > E5  Monetary Policy, Central Banking, and the Supply of Money and Credit > E51  Money Supply ; Credit ; Money Multipliers E  Macroeconomics and Monetary Economics > E4  Money and Interest Rates > E40  General 
Item ID:  26966 
Depositing User:  Zulkefly Abdul Karim 
Date Deposited:  25. Nov 2010 04:11 
Last Modified:  23. Apr 2015 21:30 
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URI:  https://mpra.ub.unimuenchen.de/id/eprint/26966 