CEU Electronic Theses and Dissertations, 2023
| Author | Savalanlı, Emil |
|---|---|
| Title | Money demand in SOE under a fixed exchange rate regime: the case of Azerbaijan |
| Summary | This study examines the stability of the money demand function in Azerbaijan and its determinants. Using quarterly data from 2001 to 2023, various tests and models are employed to explore the relationship between money demand and other variables. The findings suggest that an open economy model, supplemented with country-specific factors, offers a more effective framework for understanding money demand in a fixed exchange rate economy as Azerbaijan. Despite some issues with model stability and inconclusive effects of certain variables, the coefficient stability tests reveal a consistent money demand function. However, caution should be exercised when utilizing these models for policy-making due to their limitations. |
| Supervisor | Róbert Pál Lieli |
| Department | Economics MA |
| Full text | https://www.etd.ceu.edu/2023/savalanli_emil.pdf |
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