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The stability of money demand, its interest sensitivity, and some implications for money as a policy guide

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  • John B. Carlson

Abstract

An examination of recent empirical research on money demand, which states that the interest elasticity of money demand is greater than most economists previously thought. The author discusses the policy implications of this research for both the M1 and M2 measures.

Suggested Citation

  • John B. Carlson, 1989. "The stability of money demand, its interest sensitivity, and some implications for money as a policy guide," Economic Review, Federal Reserve Bank of Cleveland, vol. 25(Q III), pages 2-13.
    • Handle: RePEc:fip:fedcer:y:1989:i:qiii:p:2-13:n:v.25no.3
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    Cited by:

    1. William T. Gavin, 1996. "The FOMC in 1995: a step closer to inflation targeting?," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 29-47.
    2. Butkiewicz, James L. & McConnell, Margaret Mary, 1995. "The stability of the demand for money and M1 velocity: Evidence from the sectoral data," The Quarterly Review of Economics and Finance, Elsevier, vol. 35(3), pages 233-243.
    3. Susan M. Byrne & John B. Carlson, 1992. "Recent behavior of velocity: alternative measures of money," Economic Review, Federal Reserve Bank of Cleveland, vol. 28(Q I), pages 2-10.

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