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Monetary Uncertainty and Demand for Money in Korea

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  • Mohsen Bahmani-Oskooee
  • Sahar Bahmani

Abstract

Friedman’s volatility hypothesis asserts that increased volatility of money supply can lower the velocity of money or increase the demand for money. Previous studies have tested this hypothesis by using data from a few industrialized countries. In this paper, we estimate the demand for money in Korea after including a measure of volatility of nominal money supply. We provide support for Friedman’s hypothesis in the short run as well as in the long run.

Suggested Citation

  • Mohsen Bahmani-Oskooee & Sahar Bahmani, 2014. "Monetary Uncertainty and Demand for Money in Korea," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 4(3), pages 317-324.
    • Handle: RePEc:asi:aeafrj:v:4:y:2014:i:3:p:317-324:id:1160
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    Cited by:

    1. Esmaeil Ebadi, 2019. "Does Government Spending Affect Money Demand in the United States?," Economic Research Guardian, Weissberg Publishing, vol. 9(1), pages 35-45, June.

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