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The Demand for Money in a Period Analysis Context, the Irrelevance of the "Choice of Market" and the Loanable Funds-Liquidity Preference Debate

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  • McGregor, Peter G

Abstract

This paper presents a simple model of financial buffers that fully incorporates Keynes' finance and transactions motives for the demand for money. It is shown that the "choice of market" is irrelevant for interest theory even in the presence of commodity market disequilibrium; models that incorporate the finance motive do not necessarily generate loanable funds results; and the chosen time frame of the model is analytically significant. Copyright 1988 by Blackwell Publishers Ltd/University of Adelaide and Flinders University of South Australia

Suggested Citation

  • McGregor, Peter G, 1988. "The Demand for Money in a Period Analysis Context, the Irrelevance of the "Choice of Market" and the Loanable Funds-Liquidity Preference Debate," Australian Economic Papers, Wiley Blackwell, vol. 27(50), pages 136-141, June.
    • Handle: RePEc:bla:ausecp:v:27:y:1988:i:50:p:136-41
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    Cited by:

    1. Miller, Norman C., 1995. "Towards a loanable funds/amended-liquidity preference theory of the exchange rate and interest rate," Journal of International Money and Finance, Elsevier, vol. 14(2), pages 225-245, April.

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