期刊名称：Pertanika Journal of Social Sciences & Humanities
印刷版ISSN：0128-7702
电子版ISSN：2231-8534
出版年度：1987
卷号：10
期号：3
出版社：Universiti Putra Malaysia
摘要：This article investigates the issue of real versus nominal adjustment mechanism in the Malaysian demand for money function. The test for stability and ex-post forecasting ability of the model are also conducted. The results suggest that for Ml, both specifications are the 'true' model, and for M2 and M3, the nominal specification is the 'true' model. The stability test indicates that only the real specification for M2 and M3 are stable, and the results of the ex-post forecast suggest that the nominal specification has a better forecasting ability compared to the real specification of the Malaysian money demand function.
