A STABLE MONEY DEMAND FUNCTION
The stability of money demand functions: an alternative approach
This paper focuses on the analytical and empirical problems related to disequilibrium in money markets and deals only superficially with the many issues that ...
Finally, we estimate a money demand equation derived from a simple transaction technology model, using M1 as the monetary aggre- gate before 1980 and MZM after ...
A STABLE MONEY DEMAND FUNCTION - HAMBURGER - 1987
Especially for monetarists–but for nonmonetarists as well– the demand function for money is of crucial importance for understanding macroeconomic activity ...
A STABLE MONEY DEMAND FUNCTION - Wiley Online Library
money demand function is crucial for their policy prescriptions. The func- tion's shape and stability determine whether the central bank should target money or ...
A stable US money demand function, 1874–1975 - ScienceDirect
We find evidence of a unique long-run money demand function and of a stable short-run demand function which passes a range of diagnostic tests and exhibits ...
The Search for a Stable Money Demand Function: A Survey - jstor
text, a stable demand function for money translates into a well-defined relationship between money, interest rates and GNP. 993. Page 2. 994 Journal of ...
A Stable Money Demand Function - IDEAS/RePEc
Especially for monetarists–but for nonmonetarists as well– the demand function for money is of crucial importance for understanding macroeconomic activity ...
A stable US money demand function, 1874–1975 - ScienceDirect
Our results parallel those of Hendry and Ericsson's (1991) UK study. We find evidence of a unique long-run money demand function and of a stable short-run ...
Monetary Integration, Money-Demand Stability, and the Role ... - HAL
The stability of money demand function states that the money supply has a potential impact on both economic activity and inflation. Otherwise ...
Is There a Stable Money Demand Function under the Low Interest ...
Hiroshi Fujiki: Institute for Monetary and Economic Studies and Financial Markets. Department, Bank of Japan (E-mail: [email protected]).
(PDF) Is There a Stable Money Demand Function under the Low ...
The evidence appears to support the contention that there does exist a stable money demand function with long-run income elasticity greater than one for M2 and ...
Is money demand really unstable? Evidence from Divisia monetary ...
The stability of the money demand function is one of the most extensively researched. Page 4. 3 topics in the literature on monetary policy.
For a given money supply the locus of income-interest rate pairs at which money demand equals money supply is known as the LM curve. The magnitude of the ...
On the Stability of Money Demand - Research Database
... money growth rate. ': Since these components are exogenous in our set-up, we can express equilibrium relations in the steady state as functions of r. We view ...
The Stability of Money Demand Function in Five Major - jstor
... money demand relationship appeared to have broken down and the empirical basis of a stable money demand function was called into question. Enzler, Johnson ...
The Determinants and Stability of Demand for Money
CUSUM and CUSUMSQ stability tests were applied to check whether the money demand function was stable during the observed period. The results of ...
Is There a Stable Money Demand Function under the Low Interest ...
The evidence appears to support the contention that there does exist a stable money demand function with long-run income elasticity greater than one for M2 and ...
On the Stability of Money Demand - NYU Stern
Since these components are exogenous in our set-up, we can express equilibrium relations in the steady state as functions of r. We view ...
Is There a Stable Money Demand Function under the Low Interest ...
The evidence appears to support the contention that there does exist a stable money demand function with long-run income elasticity greater than one for M2 and ...
Demand for Money in the United States: Stability and Forward ...
Temporal stability means that the parameters of the money demand equation estimated from data collected over a period remain constant, regardless of the ...