The Demand for Quality-adjusted Cash Balances: Price Uncertainty in the U.S. Demand for Money Function.
This paper investigates the importance of uncertainty regarding the rate of price change as an argument in the long-run money demand function. Increased inflation uncertainty is assumed to lower the stream of monetary services yielded by a given level of real cash balances. The effects on money dema...
| Publicado en: | Journal of Political Economy Vol. 85; no. 4; pp. 691 - 716 |
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| Formato: | Artículo |
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University of Chicago Press
Aug77
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| Acceso en línea: | Ver este registro en EBSCOhost |