The Functional Form of the U.K. Demand for Money: A Critique of a Paper by Mills

T. A. Boylan and I. G. ÓMuircheartaigh

Journal of the Royal Statistical Society Series C, 1981, vol. 30, issue 3, 296-299

Abstract: The Box and Cox family of power transformations is applied to further generalize a “generalized” functional form of the U.K. demand for money given in a recent paper by Mills (1978). New estimates of the generalized forms estimated by Mills are presented. Deficiencies in the earlier results are indicated, and the general methodological problem discussed.

Date: 1981
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