The demand for Divisia Money: Theory and evidence

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 Demand for Money: The Evidence from the Time Series

Estimation Of The Demand For Money In Iran

Cross‐country Evidence on the Demand for Money*

In this article we examine money demand issues using cross‐country data, for 48 countries over the 1980‐1995 period. In particular, we investigate conventional money demand functions, for both narrow and broad aggregates, and the role that insti tutions, financial structure and financial development may have in the demand for money. On the basis of possible heterogeneity within the cross-countr...

Money Demand Dynamics: Some New Evidence

‘ONSIDERABLE empirical work and a significant, but considerably smaller, volume of theoretical effort has been devoted to the question of the short-run, dynamic adjustment of the demand for money. Much of the impetus for the empirical work came from the classic study by Chow (1966), who employed the partial adjustment model to characterize the adjustment of actual to desired real money balances.