Human and Nonhuman Wealth in Demand-for-Money Functions.
Using Kendrick's recently published data on human and nonhuman wealth in the United States, log-linear money demand functions of the "partial adjustment" variety are estimated by introducing in each nonhuman, total, or human wealth as the scale or the "constraint" variable. It is found that the long...
| Publicado en: | Journal of Political Economy Vol. 88; no. 1; pp. 186 - 194 |
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| Autores principales: | , |
| Formato: | Artículo |
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University of Chicago Press
Feb80
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=5191596&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 5191596 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00223808 JPE jtl: Journal of Political Economy issn: 00223808 maglogo: N pubinfo: dt: Feb80 vid: 88 iid: 1 pid: 415 pub: University of Chicago Press artinfo: ui: 5191596 10.1086/260854 ppf: 186 ppct: 8 formats: tig: atl: Human and Nonhuman Wealth in Demand-for-Money Functions. aug: au: Laumas, G. S. Ham, Rati affil: Illinois State University. su: Demand for money Wealth Elasticity (Economics) Econometric models Liquidity (Economics) Money supply United States sug: subj: United States Demand for money Wealth Elasticity (Economics) Econometric models Liquidity (Economics) Money supply ab: Using Kendrick's recently published data on human and nonhuman wealth in the United States, log-linear money demand functions of the "partial adjustment" variety are estimated by introducing in each nonhuman, total, or human wealth as the scale or the "constraint" variable. It is found that the long-run elasticity of money demand with respect to nonhuman wealth is somewhat larger than that with respect to total wealth, and the elasticity with respect to human wealth is the lowest. Such a structure in the elasticities is observed consistently, although differences between the elasticities are not large and perhaps not statistically significant. Using Kendrick's recently published data on human and nonhuman wealth in the United States, log-linear money demand functions of the "partial adjustment" variety are estimated by introducing in each nonhuman, total, or human wealth as the scale or the "constraint" variable. It is found that the long-run elasticity of money demand with respect to nonhuman wealth is somewhat larger than that with respect to total wealth, and the elasticity with respect to human wealth is the lowest. Such a structure in the elasticities is observed consistently, although differences between the elasticities are not large and perhaps not statistically significant. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1980 holdings: @attributes: islocal: N |
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