Relative Prices in the UK Personal Sector Money Demand Function

Leigh Drake

Economic Journal, 1996, vol. 106, issue 438, 1209-26

Abstract: Nonparametric demand analysis is used in order to establish admissible monetary aggregates and also to establish a potential role for relative prices in the money demand function. A conventional money demand specification is then contrasted with a money demand function which contains the relative prices of durables, nondurables, and services as additional regressors. Evidence from long-run cointegration analysis, short-run error correction models, and nonnested testing all confirm a role for relative prices in the U.K. personal sector's money demand function. Copyright 1996 by Royal Economic Society.

Date: 1996
References: Add references at CitEc
Citations: View citations in EconPapers (13)

Downloads: (external link)
http://links.jstor.org/sici?sici=0013-0133%2819960 ... 0.CO%3B2-F&origin=bc full text (application/pdf)
Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ecj:econjl:v:106:y:1996:i:438:p:1209-26

Ordering information: This journal article can be ordered from
http://www.blackwell ... al.asp?ref=0013-0133

Access Statistics for this article

Economic Journal is currently edited by Martin Cripps, Steve Machin, Woulter den Haan, Andrea Galeotti, Rachel Griffith and Frederic Vermeulen

More articles in Economic Journal from Royal Economic Society Contact information at EDIRC.
Bibliographic data for series maintained by Wiley-Blackwell Digital Licensing () and Christopher F. Baum ().