The objective of this paper is to present an empirical analysis of Tunisian money demand, money supply and monetary policy before and after economic transitions. This work explores the instability in estimated money demand functions. We evaluate the role of financial innovations in stabilizing the demand money function over two periods. Results suggest that the monetary aggregate has become inadequate to justify the controllability of money supply by the Tunisian Central Bank during the period of 1987 to 2013. The empirical evidence presented in the paper, provides that Tunisia to be held account of the effect of financial liberalization for adopting the inflation targeting like alternative monetary strategy.
| Published in |
Journal of World Economic Research (Volume 3, Issue 6-1)
This article belongs to the Special Issue Issues and Challenges of the Financial and Economic Crisis Throughout the World |
| DOI | 10.11648/j.jwer.s.2014030601.13 |
| Page(s) | 15-21 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2015. Published by Science Publishing Group |
Monetary Aggregates, Monetary Policy, Time Series, Tunisia
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APA Style
Olfa Manai Daboussi, Amira Majoul. (2015). Money Demand Instability and Money Supply in Tunisia during Transition Period. Journal of World Economic Research, 3(6-1), 15-21. https://doi.org/10.11648/j.jwer.s.2014030601.13
ACS Style
Olfa Manai Daboussi; Amira Majoul. Money Demand Instability and Money Supply in Tunisia during Transition Period. J. World Econ. Res. 2015, 3(6-1), 15-21. doi: 10.11648/j.jwer.s.2014030601.13
AMA Style
Olfa Manai Daboussi, Amira Majoul. Money Demand Instability and Money Supply in Tunisia during Transition Period. J World Econ Res. 2015;3(6-1):15-21. doi: 10.11648/j.jwer.s.2014030601.13
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Download@article{10.11648/j.jwer.s.2014030601.13,
author = {Olfa Manai Daboussi and Amira Majoul},
title = {Money Demand Instability and Money Supply in Tunisia during Transition Period},
journal = {Journal of World Economic Research},
volume = {3},
number = {6-1},
pages = {15-21},
doi = {10.11648/j.jwer.s.2014030601.13},
url = {https://doi.org/10.11648/j.jwer.s.2014030601.13},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jwer.s.2014030601.13},
abstract = {The objective of this paper is to present an empirical analysis of Tunisian money demand, money supply and monetary policy before and after economic transitions. This work explores the instability in estimated money demand functions. We evaluate the role of financial innovations in stabilizing the demand money function over two periods. Results suggest that the monetary aggregate has become inadequate to justify the controllability of money supply by the Tunisian Central Bank during the period of 1987 to 2013. The empirical evidence presented in the paper, provides that Tunisia to be held account of the effect of financial liberalization for adopting the inflation targeting like alternative monetary strategy.},
year = {2015}
}
TY - JOUR T1 - Money Demand Instability and Money Supply in Tunisia during Transition Period AU - Olfa Manai Daboussi AU - Amira Majoul Y1 - 2015/01/24 PY - 2015 N1 - https://doi.org/10.11648/j.jwer.s.2014030601.13 DO - 10.11648/j.jwer.s.2014030601.13 T2 - Journal of World Economic Research JF - Journal of World Economic Research JO - Journal of World Economic Research SP - 15 EP - 21 PB - Science Publishing Group SN - 2328-7748 UR - https://doi.org/10.11648/j.jwer.s.2014030601.13 AB - The objective of this paper is to present an empirical analysis of Tunisian money demand, money supply and monetary policy before and after economic transitions. This work explores the instability in estimated money demand functions. We evaluate the role of financial innovations in stabilizing the demand money function over two periods. Results suggest that the monetary aggregate has become inadequate to justify the controllability of money supply by the Tunisian Central Bank during the period of 1987 to 2013. The empirical evidence presented in the paper, provides that Tunisia to be held account of the effect of financial liberalization for adopting the inflation targeting like alternative monetary strategy. VL - 3 IS - 6-1 ER -
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