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HOUSING WEALTH AND U.S. MONEY DEMAND: A PANEL ESTIMATION.

This article estimates a panel model for U.S. money demand using annual state-level data for the period from 1977 to 2008. We incorporate housing wealth in the demand-for-money function and find strong evidence of a relationship between a broad monetary aggregate and housing wealth. This finding is...

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Published in:Contemporary Economic Policy Vol. 29; no. 3; pp. 382 - 392
Main Authors: ARNOLD, IVO J. M., ROELANDS, SEBASTIAN
Format: Article
Published: Wiley-Blackwell Jul2011
Subjects:
United States
Money supply
Business cycles
Housing finance
Demand for money
Home prices
Real estate business
Online Access:View this record in EBSCOhost