This paper uses a Jle.rrhle leust squares (FLS) time-varying linear regression technique to investiaate coefficient stabilitv for the Goldfeld U.S. money demand model over the period 1959:62 to 19X5:Q3. Time paths traced out by the FLS coefficient estimates exhibit shifts in 1974 and 1983; but these shifts are small relative to a persistent downward trend in the estimated coefficient for the in...