The Demand for Money in a Period Analysis Context, the Irrelevance of the "Choice of Market" and the Loanable Funds-Liquidity Preference Debate

Peter McGregor

Australian Economic Papers, 1988, vol. 27, issue 50, 136-41

Abstract: This paper presents a simple model of financial buffers that fully incorporates Keynes' finance and transactions motives for the demand for money. It is shown that the "choice of market" is irrelevant for interest theory even in the presence of commodity market disequilibrium; models that incorporate the finance motive do not necessarily generate loanable funds results; and the chosen time frame of the model is analytically significant. Copyright 1988 by Blackwell Publishers Ltd/University of Adelaide and Flinders University of South Australia

Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:bla:ausecp:v:27:y:1988:i:50:p:136-41

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