Cover IMF Staff Papers
Buy Book in Print
Long-Run Money Demand in Large Industrial Countries: Volume 38 No. 1
Author:
International Monetary Fund. Research Dept.
Search for other papers by International Monetary Fund. Research Dept. in
Current site
Google Scholar Close
Series:
IMF Staff Papers
Volume/Issue:
Volume 1991: Issue 004
Language:
English
Publication Date:
01 Jan 1991
DOI:
https://doi.org/10.5089/9781451956917.024
ISBN:
9781451956917
ISSN:
1020-7635
Pages:
236
Keywords:
SP; investment rate; money supply target; liberalized interest rate regime; interest rate level; exchange rate expectation; Private investment; Exchange rates; Income; Currencies; Inflation; Global; Europe; Africa; Asia and Pacific
Download PDF (13.1 MB) Download Epub
The long-run properties of money demand functions in the large industrial countries are examined under the hypothesis that the long-run functions have been stable but that the dynamic adjustment processes are more complex than those represented in most earlier models. The results broadly support this hypothesis, but for certain aggregates they also call into question some basic hypotheses about the nature of the demand function, including, notably, that of homogeneity with respect to the price level.
  • Collapse
  • Expand
Cover IMF Staff Papers
IMF Staff Papers
ISSN:
1020-7635
Publisher:
International Monetary Fund