Assessing the Stability of Money Multipliers: Evidence from Keny
Journal Title: IOSR Journal of Economics and Finance (IOSR-JEF) - Year 2018, Vol 9, Issue 4
Abstract
This paper investigated the stability of money multiplier using Kenyan data for the period 1983- 2015.This paper used Maki(2012) tests for cointegration allowing for unknown number of structural breaks and the Dynamic Ordinary Square method to estimate long run parameters. The findings of this paper shows that in the short run money supply function is unstable , however in the long run money supply function is stable. Another finding of this paper is that there is a one to one positive relationship between money supply and high powered money in Kenya. The implication is that money supply is an effective monetary policy target variable, hence can be used by Central Bank of Kenya in implementing its monetary policy in order to achieve the macroeconomic goals.
Authors and Affiliations
Susan moraa onuonga
Keywords
Related Articles
- EP ID EP414872
- DOI 10.9790/5933-0904016171.
- Views 186
- Downloads 0
Cattle Breeder Motivation Through Cattle Breeding Profit Sharing System Performance At Maiwa District, Enrekang Regency, South Sulawesi
The objective of the research is to analyze the factors that influence the motivation of cattle breeder with profit sharing system pattern. Data retrieval time was started from January to February 2017. The research was...
Effect Of Environmental Impacts On Performance Of Managerial Performance Through Accounting Control As Intervening Variables
Accounting study that taking settings in companies us ed high technology in indonesia is still rare ly to meet. This study seeks to investigate district managers of domestic scheduled passenger airlinescompanies in Indon...
Research on the Financing of Small Enterprises from the Perspective of Public Policies
As the major part of enterprises in China, small enterprises have made great contributions to the economic development and the improvement of people’s livelihood of China. However, inconsistent with their economic status...
A Study on the Investment Performance of High Dividend Yield Stocks With Reference To Nifty
Investors invest in stock markets to make profits. Low risk investors always look for ways in investing their capital in stable stocks which pay high dividend and those which do not depreciate over time eroding the capit...
Securitization Performance Model in Malaysia
In 1986, the Malaysian Securities Commission established Cagamas Berhad as the National Mortgage Corporation of Malaysia, based on the Fannie Mae and Freddie Mac guidelines or models in the United Stated. The objective o...