EconPapers    
Economics at your fingertips  
 

Three Decades of Money Demand Studies. Some Differences and Remarkable Similarities

Markus Knell () and Helmut Stix ()

Working Papers from Oesterreichische Nationalbank (Austrian Central Bank)

Abstract: By analyzing almost 1000 money demand estimations this paper attempts to summarize the disperse findings of this literature. Using both descriptive statistics and meta-regressions we derive several stylized facts about the two most prominent determinants of money demand–income and interest rate elasticities. In particular, we show that the size and signs of average elasticities are systematically related to the choice of included variables (e.g., M1 or M3, short-run or long-run interest rates), the country grouping (e.g., US vs. Germany) and the empirical specification (e.g., the inclusion of one or two interest rates).

Keywords: Money Demand; Meta Analysis; Empirical Methods (search for similar items in EconPapers)
JEL-codes: E41 E52 (search for similar items in EconPapers)
Pages: 43
Date: 2004-06-07
New Economics Papers: this item is included in nep-cba, nep-eec, nep-fin, nep-ifn, nep-lam, nep-mon, nep-pke and nep-rmg
References: Add references at CitEc
Citations: View citations in EconPapers (19) Track citations by RSS feed

Downloads: (external link)
https://www.oenb.at/dam/jcr:69279372-c975-4d40-8db ... et_1__tcm16-9848.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 403 Forbidden (https://www.oenb.at/dam/jcr:69279372-c975-4d40-8dba-304201ce2287/wp88_internet_1__tcm16-9848.pdf [303 See Other]--> https://www.oenb.at/error_path/403.html?al_req_id=YzLWtlvqvIuxyISkDdXfTAAAAD0)

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:onb:oenbwp:88

Ordering information: This working paper can be ordered from
Oesterreichische Nationalbank, Economic Studies Division, POB 61, A-1011 Vienna, Austria

The price is Free subject to availability.

Access Statistics for this paper

More papers in Working Papers from Oesterreichische Nationalbank (Austrian Central Bank) P.O. Box 61, A-1011 Vienna, Austria. Contact information at EDIRC.
Bibliographic data for series maintained by Markus Knell ().

 
Page updated 2022-09-28
Handle: RePEc:onb:oenbwp:88