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ABSTRACT
Using annual time series data from 1989 to 2022, this study examined the long and short-run impact of the effect of currency hoarding on monetary policy and aggregate demand in Nigeria. Extensive reviews of diverse literatures and existing works on the impact of the effect of currency hoarding on monetary policy and 50 aggregate demand in Nigeria were undertaken. The study is based on quantity theory of money. The descriptive analyses of the variables were carried out, with its values interpreted. The Augmented dickey fuller (ADF) test was used in checking for stationarity among the variables. Moreover, the Autoregressive Distributed Lag Model was used as the technique of analysis. The ARDL Bounds Test was conducted to ascertain the existence of a long run relationship among the variables employed. The long run and short run models were thereafter estimated, and its results interpreted. The results obtained suggests that some the explanatory variables of the model were significant to some extent in explaining aggregate demand in the short run. While only Currency hoarding significantly impacted aggregate demand (GDP) in the long run.
