Money Demand: Theory, Evidence, Results

Verónica Mies () and Raimundo Soto

Journal Economía Chilena (The Chilean Economy), 2000, vol. 3, issue 3, 5-32

Abstract: This article critically reviews the economic literature on money demand, stressing empirical results obtained for Chile. The first part of the paper briefly discusses the main analytical approaches to model the demand for money from a historical perspective. Then the role of money is analyzed from the perspective of macroeconomic general-equilibrium theories. This review focuses on five canonical models: money in the utility function, transaction costs, cash in advance, search, and overlapping generations. Finally the paper surveys applied research on money demand, focusing on the empirical counterpart of theoretical models presented in the analytical section (variable selection, specification, and estimation techniques) and the empirical results of 26 studies on money demand in Chile undertaken between 1960 and 2000.

Date: 2000
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://si2.bcentral.cl/public/pdf/revista-economi ... /rec_v3n3_pp5_32.pdf (application/pdf)

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:chb:bcchec:v:3:y:2000:i:3:p:5-32

Access Statistics for this article

Journal Economía Chilena (The Chilean Economy) is currently edited by Álvaro Aguirre, Sofía Bauducco and Andrés Fernández

More articles in Journal Economía Chilena (The Chilean Economy) from Central Bank of Chile Contact information at EDIRC.
Bibliographic data for series maintained by Fredherick Sanllehi ().