Stable Broad Money Demand in Ghana Could Transform Economic Stability
The researchers looked at how the demand for money in Ghana changed over 20 years. They found that the demand for M1 and M2 money was not very stable during this time. However, the demand for broad money (M2+) was more stable compared to M1 and M2. This means that the amount of money people wanted to hold in Ghana varied a lot for smaller types of money, but was more consistent for larger amounts of money.