Empirical modeling of money demand

This paper examines several central issues in the empirical modeling of money demand. These issues include economic theory, data measurement, parameter constancy, the opportunity cost of holding money, cointegration, model specification, exogeneity, and inferences for policy. Review of these issues at a general level is paralleled by discussion of specific empirical applications, including some new results on the demand for narrow money in the United Kingdom.

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Year of publication:	1998-09-01
Authors:	Ericsson, Neil R.
Published in:	Empirical Economics. - Department of Economics and Finance Research and Teaching. - Vol. 23.1998, 3, p. 295-315
Publisher:	Department of Economics and Finance Research and Teaching
Subject:	Cointegration \| exogeneity \| financial innovation \| money demand \| parameter constancy

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Extent:	application/pdf
Type of publication:	Article
Classification:	E41 - Demand for Money ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005166656