Series: IMF Working Papers
Author(s): David Cook , and Woon Choi
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 April 2007
Keywords: financial market risk, stock market liquidity, money market mutual funds, financial market, stock market, money market, Financial Markets and the Macroeconomy, General Financial Markets: General (includes Measurement and Data),
This paper examines empirically U.S. broad money demand emphasizing the role of financial market risk. We find that money demand rises with the liquidity risk of stock markets or the credit risk of corporate bond m...