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On empirical implications of highly interest-elastic money demand: A Note

Kiyotaka Nakashima () and Makoto Saito ()

MPRA Paper from University Library of Munich, Germany

Abstract: Based on a standard model of money demand, this paper first shows that a relationship between money supply and prices may be substantially weakened when money demand is highly interest-elastic, and then presents empirical evidence for this implication using the Japanese money market data for the sample period, 1985-1999.

Keywords: money demand; zero interest-rate policy; cointegration. (search for similar items in EconPapers)
JEL-codes: E31 E41 E52 (search for similar items in EconPapers)
Date: 2008-01-05
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Published in Hitotsubashi Journal of Economics 1.50(2009): pp. 29-34

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Related works:
Journal Article: On Empirical Implications of Highly Interest-Elastic Money Demand: A Note (2009) Downloads
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