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The Gambia: Demand for Broad Money and Implications for Monetary Policy Conduct

The Gambia: Demand for Broad Money and Implications for Monetary Policy Conduct by Subramanian S. Sriram
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This paper evaluates the demand for broad money (M2) in The Gambia for January 1988-June 2007. There appears to be a long-run relationship for demand for real M2, but the relationship is not stable. Exogenous output shocks, financial innovation, changes in income velocity, and inadequate data quality contribute to the instability. The authorities may need to apply the monetary targeting regime flexibly in the overall objective of preserving price stability. A possible option for The Gambia is to become an inflation targeter lite.
International Monetary Fund; September 2009
41 pages; ISBN 9781452775289
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Title: The Gambia: Demand for Broad Money and Implications for Monetary Policy Conduct
Author: Subramanian S. Sriram
 
ISBNs
1451917635
9781451873399
9781451917635
9781452775289