GARCIA-HIERNAUX, Alfredo; CERNO, Leonel - In: Applied Econometrics and International Development 6 (2006) 1
The purpose of this paper is to estimate the money demand function of Cagan (1956) using a panel data set covering 27 countries with different economic levels over the period 1988-98. The static fixed effects and the dynamic fixed effects reveal that a money demand equation exists. However, in...
