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Market intelligence gathering, asymmetric information, and the instability of money demand.

The observed money demand in the U.S. had a stable negative relation with the interest rate up until the 1990s. After this period, this relation fell apart and has never been restored. We show that the central bank's ability to gather information, referred to as market intelligence (MI), matters to...

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Published in:Economic Inquiry Vol. 62; no. 3; pp. 1216 - 1246
Main Authors: Kim, Seon Tae, Marchesiani, Alessandro
Format: Article
Published: Wiley-Blackwell Jul2024
Subjects:
Information asymmetry
Demand for money
Reconnaissance operations
Marketing strategy
Online Access:View this record in EBSCOhost