Koskela, Erkki; Viren, Matti - In: Economic Inquiry 25 (1987) 2, pp. 251-65
This paper explores the role of nominal rate of return uncertainty, and inflation hedging as factors explaining the pattern of money de mand. Using U.S. quarterly data over the period 1952II-1982IV, it is shown that in conformity with theoretical considerations the nominal rate of...