The value of time and recent U.S. money demand instability.

Most studies of U.S. money demand have failed to estimate a stable money demand function for the past two decades, but they typically neglect “value of time” as a determinant of money demand. If money saves transaction time, it increases the consumer's leisure time, which is valued at the wage rat...

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Bibliographic Details

Published in:	Southern Economic Journal Vol. 60; pp. 564 - 579
Main Authors:	Arize, Augustine C., Darrat, Ali F.
Format:	Article
Published:	Southern Economic Association January 1994
Subjects:	Time & economic reactions Mathematical models of economics Demand for money Money Mathematical models United States
Online Access:	View this record in EBSCOhost