Some analysts contend that the introduction nationwide since 1981 of interest-bearing NOWs and Super NOW's has raised the interest elasticity of M1 demand. This article presents empirical evidence consistent with this view. The demand deposit component of Ml does not exhibit any heightened...

An increasing array of development of banking system of Pakistan, through the use of information technology and modernization of products and services has led to financial innovations to be considered as important determinant of demand for money. This paper investigates the relationship of...

This paper presents an empirical test of the proposition that control of a monetary aggregate will generate a rise in its velocity.The test is carried out utilizing the Canadian experience of controlling Ml growth from 1975:3 to 1982:3. Section One of the paper presents evidence of the...

Based on a literature review, this paper investigates the reasons why broad money demand has usually been found to be more stable in the euro area than in other large economies. The paper concludes that there are three main explanations for this fact. First, in some countries outside the euro...

This paper presents an empirical test of the proposition that control of a monetary aggregate will generate a rise in its velocity.The test is carried out utilizing the Canadian experience of controlling Ml growth from 1975:3 to 1982:3. Section One of the paper presents evidence of the...

This paper examines the problem of measuring the growth of a monetary aggregate in the presence of innovations in financial markets and changes in the relationship between individual assets and output. We propose constructing a monetary aggregate so that it is a good leading indicator of nominal...