International Evidence on the Demand for Money

Ray Fair ()

No 813, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: One of the current questions in the literature on the demand for money is whether the adjustment of actual to desired money holdings is in nominal or real terms. This paper describes a simple procedure that can be used to test the nominal against the real hypothesis. The test is carried out for 27 countries. The paper also tests the structural stability of the demand for money equations and the correctness of the dynamic specification.

Keywords: Money; demand (search for similar items in EconPapers)
Pages: 17 pages
Date: 1986-12
Note: CFP 732.
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Published in Review of Economics and Statistics (August 1987), 69(3): 473-480

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Journal Article: International Evidence on the Demand for Money (1987)
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Persistent link: https://EconPapers.repec.org/RePEc:cwl:cwldpp:813

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