The Asymptotically Ideal Model (AIM), first estimated by Barnett and Yue (1998), based on the Muntz-Szatz series expansion as described by Barnett and Jonas (1983) is used to estimate money demand using quarterly US data from 1960 to the first quarter of 2004. We find that monetary assets are...

In this paper following Ball (2012) I estimate the demand function for narrow money aggregate M1 in Russia for 2003-2012. I show that after inclusion of cash foreign exchange and relevant interest rate the money demand is stable in the long- and the short-run and estimated long-run elasticities...

The recent macroeconomics and emerging market economics have contributed to the growing integration of financial innovation; financial markets integration, and financial dis intermediaries. This study investigates the long run and short run stability demand for money in India and relationship...

Building upon the insight that M1 velocity is the permanent component of nominal interest rates - see Benati (2020) - I propose a novel, and straightforward approach to estimating the natural rate of interest, which is conceptually related to Cochrane's (1994) proposal to estimate the permanent...