Modelling money demand: further evidence from an international comparison

International Evidence on the Demand for Money

One of the current questions in the literature on she demand for money is whether the adjustment of actual lo desired money holdings is in nominal or real terms. This paper describes a simple procedure that can be used to test the nominal against the real hypothesis. The test is carried out for 27 countries. The paper also tests the svuctural stability of the demand for money equations and the ...

The Life-Cycle Motive and Money Demand: Further Evidence

This study takes a closer look at the relationship between money demand and the life-cycle motive using panel data from the Survey of Income and Program Participation. Findings indicate that the life-cycle motive exerts a direct impact on household demand for interest-earning monetary assets, but not on non-interest-earning checking deposits. The strength of the relationship, however, varies am...

The Demand for Money: The Evidence from the Time Series

Money Demand near Zero Interest Rate: Evidence from Regional Data

The author thanks especially Eric Bennet Rasmusen, Richard Anton Braun, Fumio Hayashi, Shin-ichi Fukuda, seminar participants at Tsukuba University, Keio University, the University of Tokyo, and the Far Eastern Meeting of the Econometric Society 2001 for their helpful comments. Toyoichiro Shirota provided excellent research assistance. The views expressed in this paper are solely the author’s o...

Some Further Investigations of Demand and Supply Functions for Money