Identification and Estimation of Money Demand.

The consensus account of the theory of the demand for money has changed little in the last forty years. In contemporary formulations, just as in Keynes's general theory, the demand for real money is assumed to depend negatively on a short-term interest rate, representing a proxy for the opportunity...

Full description

Bibliographic Details

Published in:	American Economic Review Vol. 71; no. 5; pp. 825 - 845
Main Authors:	Cooley, Thomas F., LeRoy, Stephen F.
Format:	Article
Published:	American Economic Association Dec81
Subjects:	Demand for money Elasticity (Economics) Keynesian economics Economic policy Rational expectations (Economic theory) Interest rates Macroeconomics Extreme value theory Gross national product Quantity theory of money Money supply
Online Access:	View this record in EBSCOhost