Ericsson, Neil R.; Hendry, David F.; Tran, Hong-Anh - Federal Reserve Board (Board of Governors of the … - 1993
Virtually all previous narrow money demand studies for the United Kingdom have used seasonally adjusted data for money, prices, and expenditure. This paper develops a constant, data-coherent M1 demand equation for the United Kingdom with seasonally unadjusted data. For that model, we address...