In his seminal 1960 study on the dynamics of alternative exchange rate regimes, Robert Mundell proposed a theory of … regularities of the business cycle associated with temporary fixed-exchange-rate regimes. In turn, these cyclical dynamics validate … thus aims to explain both the real effects and the collapse of exchange-rate-based stabilizations in a unified framework. …

demand for broad money in the United Kingdom over 1878-1975. We update that model over 1976-1993, accounting for changed data … follow for parameter nonconstancy and predictive failure, causation between money and prices, monetary targeting …

This paper studies the dependence of velocity on stochastic monetary growth in a model where households demand money … uncertainty leads households to value money for its insurance against adverse endowment shocks. With stochastic monetary growth … the distribution of money balances across households does not settle down to a time invariant distribution, so one aim of …

This paper develops a constant, data-coherent, error correction model for broad money demand (M3) in Greece. This model … model is remarkably stable. The dynamics of money demand are important, with price and income elasticities being much …