Money Demand, Consumer Demand and Relative Prices in Australia

Kenneth Clements and Phuong Nguyen

The Economic Record, 1980, vol. 56, issue 155, 338-346

Abstract: This paper develops a system‐wide model in which the consumer simultaneously allocates his income to money holdings and consumption. The model is estimated with annual Australian data and the results indicate that relative prices have a significant influence on money holdings. The results are used to decompose the rate of inflation into its. various components, the main ones being money supbly, real income and relative prices.

Date: 1980
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Persistent link: https://EconPapers.repec.org/RePEc:bla:ecorec:v:56:y:1980:i:155:p:338-346

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