Bahmani-Oskooee, Mohsen; Maki Nayeri, Majid - In: Review of Economic Analysis : REA 12 (2020) 1, pp. 73-87
In an attempt to establish stability of the demand for money, some recent studies have included the volatility of the … Economic Policy Uncertainty. When we included this lat er measure, we were unable to find a stable money demand in Japan …. However, when we introduced the nonlinear adjustment of policy uncertainty, we not only found a stable money demand but also …