On Empirical Implications of Highly Interest-Elastic Money Demand : A Note

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.

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Year of publication:	2009
Authors:	Nakashima, Kiyotaka ; Saito, Makoto
Published in:	Hitotsubashi Journal of Economics. - Graduate School of Economics. - Vol. 50.2009, 1, p. 29-34
Publisher:	Graduate School of Economics
Subject:	money demand \| zero interest-rate policy \| cointegration

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	E31 - Price Level; Inflation; Deflation ; E41 - Demand for Money ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009206496