Add to ORKGDespite the importance of well-specified empirical money-demand functions for inference, forecasting, and policy, problems in modeling have arisen concerning the economic theories of money demand, the data, institutional frameworks, financial innovation, and econometric implementation. By developing constant, data-coherent M1 demand equations for the UK and the US, we investigate these issues and explain such puzzles as "missing money", the great velocity decline, and the recent explosion in M1. The endogeneity of money, the Lucas critique, and the non-invertibility of our M1 models are also discussed.Money supply ; Great Britain
Despite thirty years of research there is still widespread disagreement about even the basic explana...
A characteristic of much research in monetary economics in the last few years has been a preoccupati...
The purpose of this paper is to examine some of the aspects of recent theoretical models of buffer s...
This paper evaluates an empirical model of UK money demand developed by Friedman and Schwartz in Mon...
This paper examines several central issues in the empirical modeling of money demand. These issues i...
This paper evaluates an empirical model of U.K. money demand developed by Milton Friedman and Anna J...
Since the influential works of Friedman and Schwartz (1963, 1982) on the monetary history of the Uni...
Using annual data from Friedman and Schwartz (1982), Hendry and Ericsson (1991a) developed an empiri...
We apply recent econometric techniques to the demand for money in the United States over a period of...
Using annual data from Friedman and Schwartz (1982), Hendry and Ericsson (1991a) developed an empiri...
Using annual data from M. Friedman and A. Schwartz (1982), D. F. Hendry and N. R. Ericsson (1991) de...
This paper estimates money demand equations for the euro area, the US and the UK using a quantile re...
This paper examines the demand for broad money in West Germany, the Netherlands and France. We give ...
We estimate money demand functions for the UK, the Euro area and the US using Divisia monetary aggre...
This article aims at estimating money demand for the euro area, the United States and the United Kin...
Despite thirty years of research there is still widespread disagreement about even the basic explana...
A characteristic of much research in monetary economics in the last few years has been a preoccupati...
The purpose of this paper is to examine some of the aspects of recent theoretical models of buffer s...
This paper evaluates an empirical model of UK money demand developed by Friedman and Schwartz in Mon...
This paper examines several central issues in the empirical modeling of money demand. These issues i...
This paper evaluates an empirical model of U.K. money demand developed by Milton Friedman and Anna J...
Since the influential works of Friedman and Schwartz (1963, 1982) on the monetary history of the Uni...
Using annual data from Friedman and Schwartz (1982), Hendry and Ericsson (1991a) developed an empiri...
We apply recent econometric techniques to the demand for money in the United States over a period of...
Using annual data from Friedman and Schwartz (1982), Hendry and Ericsson (1991a) developed an empiri...
Using annual data from M. Friedman and A. Schwartz (1982), D. F. Hendry and N. R. Ericsson (1991) de...
This paper estimates money demand equations for the euro area, the US and the UK using a quantile re...
This paper examines the demand for broad money in West Germany, the Netherlands and France. We give ...
We estimate money demand functions for the UK, the Euro area and the US using Divisia monetary aggre...
This article aims at estimating money demand for the euro area, the United States and the United Kin...
Despite thirty years of research there is still widespread disagreement about even the basic explana...
A characteristic of much research in monetary economics in the last few years has been a preoccupati...
The purpose of this paper is to examine some of the aspects of recent theoretical models of buffer s...