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The Demand for Money: The Evidence from the Time Series

Citations

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Cited by:

  1. Tae-Hwy Lee & Weiping Yang, 2012. "Money–Income Granger-Causality in Quantiles," Advances in Econometrics, in: 30th Anniversary Edition, pages 385-409, Emerald Group Publishing Limited.
  2. Jung, Alexander & Carcel Villanova, Hector, 2020. "The empirical properties of euro area M3, 1980-2017," The Quarterly Review of Economics and Finance, Elsevier, vol. 77(C), pages 37-49.
  3. Mohitosh Kejriwal & Pierre Perron & Xuewen Yu, 2022. "A two‐step procedure for testing partial parameter stability in cointegrated regression models," Journal of Time Series Analysis, Wiley Blackwell, vol. 43(2), pages 219-237, March.
  4. Edward Nelson, 2004. "Money and the Transmission Mechanism in the Optimizing IS-LM Specification," History of Political Economy, Duke University Press, vol. 36(5), pages 271-304, Supplemen.
  5. Mulligan, Casey B & Sala-I-Martin, Xavier X, 1997. "The Optimum Quantity of Money: Theory and Evidence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(4), pages 687-715, November.
  6. William Poole & Robert H. Rasche & David C. Wheelock, 2013. "The Great Inflation: Did The Shadow Know Better?," NBER Chapters, in: The Great Inflation: The Rebirth of Modern Central Banking, pages 61-107, National Bureau of Economic Research, Inc.
  7. repec:onb:oenbwp:y::i:88:b:1 is not listed on IDEAS
  8. Rangan Gupta & Josine Uwilingiye, 2008. "Measuring The Welfare Cost Of Inflation In South Africa," South African Journal of Economics, Economic Society of South Africa, vol. 76(1), pages 16-25, March.
  9. Luca Benati, 2021. "A New Approach to Estimating the Natural Rate of Interest," Diskussionsschriften dp2108, Universitaet Bern, Departement Volkswirtschaft.
  10. Lippi, Francesco & Secchi, Alessandro, 2006. "Technological change and the demand for currency: An analysis with household data," CEPR Discussion Papers 6023, C.E.P.R. Discussion Papers.
  11. Lucas, Robert E, Jr, 1996. "Nobel Lecture: Monetary Neutrality," Journal of Political Economy, University of Chicago Press, vol. 104(4), pages 661-682, August.
  12. Michael J. Hamburger, 1987. "A Stable Money Demand Function," Contemporary Economic Policy, Western Economic Association International, vol. 5(1), pages 34-40, January.
  13. Robert E. Lucas Jr., 2003. "Macroeconomic Priorities," American Economic Review, American Economic Association, vol. 93(1), pages 1-14, March.
  14. ALBULESCU, Claudiu Tiberiu & PÉPIN, Dominique & MILLER, Stephen M., 2019. "The micro-foundations of an open economy money demand: An application to central and eastern European countries," Journal of Macroeconomics, Elsevier, vol. 60(C), pages 33-45.
  15. Casey B. Mulligan, "undated". "The Demand for Money by Firms: Some Additional Empirical Results," University of Chicago - Population Research Center 97-1, Chicago - Population Research Center.
  16. Mattia Girotti, 2018. "The effects of monetary policy on the composition of bank deposits and on loan supply," Rue de la Banque, Banque de France, issue 59, march.
  17. Carlos Acevedo, 2000. "Mecanismos de transmisión de política monetaria con liberalización financiera: El Salvador en los noventa," Monetaria, CEMLA, vol. 0(4), pages 361-412, octubre-d.
  18. Lucas, Robert E. & Nicolini, Juan Pablo, 2015. "On the stability of money demand," Journal of Monetary Economics, Elsevier, vol. 73(C), pages 48-65.
  19. David B. Gordon & Eric M. Leeper, 2006. "The Price Level, The Quantity Theory Of Money, And The Fiscal Theory Of The Price Level," Scottish Journal of Political Economy, Scottish Economic Society, vol. 53(1), pages 4-27, February.
  20. Luca Benati & Robert E. Lucas & Juan Pablo Nicolini & Warren E. Weber, 2017. "Online Appendix for: International Evidence on Long-Run Money Demand," Working Papers 738, Federal Reserve Bank of Minneapolis.
  21. Peter N. Ireland, 2009. "On the Welfare Cost of Inflation and the Recent Behavior of Money Demand," American Economic Review, American Economic Association, vol. 99(3), pages 1040-1052, June.
  22. Belongia, Michael T. & Ireland, Peter N., 2019. "The demand for Divisia Money: Theory and evidence," Journal of Macroeconomics, Elsevier, vol. 61(C), pages 1-1.
  23. Paul Evans & Xiaojun Wang, 2008. "Is The Price Elasticity Of Money Demand Always Unity?," Economic Inquiry, Western Economic Association International, vol. 46(4), pages 587-592, October.
  24. Tsutomu Watanabe & Tomoyoshi Yabu, 2018. "The Demand for Money at the Zero Interest Rate Bound," CARF F-Series CARF-F-444, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
  25. Bover, Olympia & Watson, Nadine, 2005. "Are there economies of scale in the demand for money by firms? Some panel data estimates," Journal of Monetary Economics, Elsevier, vol. 52(8), pages 1569-1589, November.
  26. Edward C. Prescott & Ryan Wessel, 2016. "Fiat Value in the Theory of Value," Staff Report 530, Federal Reserve Bank of Minneapolis.
  27. Maxime Menuet & Alexandru Minea & Patrick Villieu, 2018. "Deficit, monetization, and economic growth: a case for multiplicity and indeterminacy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 65(4), pages 819-853, June.
  28. Alexi Thompson & Henry Thompson, 2021. "Six decades of inflation and money demand," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 45(2), pages 240-251, April.
  29. Arthur Benavie, 1975. "Equities in the Keynesian Model," Eastern Economic Journal, Eastern Economic Association, vol. 2(1), pages 10-22, January.
  30. André Babeau, 1973. "Economies d'échelle dans les encaisses monétaires des ménages : une série de tests empiriques," Revue Économique, Programme National Persée, vol. 24(3), pages 401-441.
  31. Tobias F. Rötheli, 1990. "A Money-Market and Credit-Market Model of the Determination of the Interest Rate and the Price Level," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 126(IV), pages 521-534, December.
  32. V. Vance Roley, 1985. "Money Demand Predictability," NBER Working Papers 1580, National Bureau of Economic Research, Inc.
  33. Gordon, David B. & Leeper, Eric M. & Zha, Tao, 1998. "Trends in velocity and policy expectations," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 49(1), pages 265-304, December.
  34. Greene, Clinton A., 2002. "Was money demand in the USA unstable before 1982? An application of the sup-F stability test," Journal of Economics and Business, Elsevier, vol. 54(5), pages 465-481.
  35. André C. Silva, 2012. "Rebalancing Frequency and the Welfare Cost of Inflation," American Economic Journal: Macroeconomics, American Economic Association, vol. 4(2), pages 153-183, April.
  36. Karsten Schweikert, 2022. "Oracle Efficient Estimation of Structural Breaks in Cointegrating Regressions," Journal of Time Series Analysis, Wiley Blackwell, vol. 43(1), pages 83-104, January.
  37. Leeper, Eric M. & Gordon, David B., 1992. "In search of the liquidity effect," Journal of Monetary Economics, Elsevier, vol. 29(3), pages 341-369, June.
  38. Dai, Wei & Serletis, Apostolos, 2019. "On the Markov switching welfare cost of inflation," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
  39. Stefan Gerlach, 2017. "Long-run money demand in Switzerland," Aussenwirtschaft, University of St. Gallen, School of Economics and Political Science, Swiss Institute for International Economics and Applied Economics Research, vol. 68(01), pages 47-62, December.
  40. Calza, Alessandro & Zaghini, Andrea, 2010. "Sectoral money demand and the great disinflation in the US," Working Paper Series 1218, European Central Bank.
  41. Sophia Lazaretou, 2009. "Money supply and Greek history monetary statistics: definition, construction, sources and data," Working Papers 105, Bank of Greece.
  42. Bhatta, Siddha Raj, 2011. "Stability of demand for money function in Nepal: A cointegration and error correction modeling approach," MPRA Paper 41404, University Library of Munich, Germany.
  43. Nelson, Edward, 2002. "Direct effects of base money on aggregate demand: theory and evidence," Journal of Monetary Economics, Elsevier, vol. 49(4), pages 687-708, May.
  44. Silveira, Antonio Maria da, 1974. "Mercado da moeda e política econômica," RAE - Revista de Administração de Empresas, FGV-EAESP Escola de Administração de Empresas de São Paulo (Brazil), vol. 14(1), February.
  45. Benchimol, Jonathan & Qureshi, Irfan, 2020. "Time-varying money demand and real balance effects," Economic Modelling, Elsevier, vol. 87(C), pages 197-211.
  46. Benati, Luca & Lucas, Robert E. & Nicolini, Juan Pablo & Weber, Warren, 2021. "International evidence on long-run money demand," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 43-63.
  47. Norrbin, Stefan C. & Reffett, Kevin L., 1996. "A substitution test of long-run money demand," Journal of Macroeconomics, Elsevier, vol. 18(2), pages 253-270.
  48. Mattia Girotti, 2021. "How monetary policy changes bank liability structure and funding cost," Oxford Economic Papers, Oxford University Press, vol. 73(1), pages 49-75.
  49. Lubello, Federico, 2011. "Money Demand and Inflation: A Cointegration Analysis for Canada," MPRA Paper 54901, University Library of Munich, Germany.
  50. Akhand Hossain, 2012. "Modelling of narrow money demand in Australia: an ARDL cointegration approach, 1970–2009," Empirical Economics, Springer, vol. 42(3), pages 767-790, June.
  51. Matteo Mogliani & Giovanni Urga, 2018. "On the Instability of Long‐Run Money Demand and the Welfare Cost of Inflation in the United States," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(7), pages 1645-1660, October.
  52. Ramos, Fernando, 2006. "A methodological approach to estimating the money demand in pre-industrial economies: probate inventories and Spain in the 18th century," IFCS - Working Papers in Economic History.WH wh061902, Universidad Carlos III de Madrid. Instituto Figuerola.
  53. Benati, Luca, 2020. "Money velocity and the natural rate of interest," Journal of Monetary Economics, Elsevier, vol. 116(C), pages 117-134.
  54. NAJAM us SAQIB & ALlY A H. KHAN, 1988. "On an Empirical Definition of Money for Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 27(4), pages 853-859.
  55. Luca Benati, Juan-Pablo Nicolini, 2024. "The Welfare Costs of Inflation Reconsidered," Diskussionsschriften dp2408, Universitaet Bern, Departement Volkswirtschaft.
  56. Tsutomu Watanabe & Tomoyoshi Yabu, 2021. "Japan’s voluntary lockdown: further evidence based on age-specific mobile location data," The Japanese Economic Review, Springer, vol. 72(3), pages 333-370, July.
  57. Zahra Rouhani & Mehdi Behname & Sayed Mahdi Mostafavi, 2013. "A Comparative Study For Opportunity Cost Of Holding Money Between Selected Developing And Developed Countries," Romanian Economic Business Review, Romanian-American University, vol. 8(4), pages 7-17, december.
  58. Lippi, Francesco & Secchi, Alessandro, 2009. "Technological change and the households' demand for currency," Journal of Monetary Economics, Elsevier, vol. 56(2), pages 222-230, March.
  59. Alessandro Calza & Andrea Zaghini, 2010. "Sectoral Money Demand and the Great Disinflation in the United States," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(8), pages 1663-1678, December.
  60. Nelson, Edward, 2003. "The future of monetary aggregates in monetary policy analysis," Journal of Monetary Economics, Elsevier, vol. 50(5), pages 1029-1059, July.
  61. Clinton Greene, 1999. "On the impossibility of a stable and low GDP elasticity of money demand: the arithmetic of aggregation, replication and income growth," Applied Economics, Taylor & Francis Journals, vol. 31(9), pages 1119-1127.
  62. Calza Alessandro & Zaghini Andrea, 2011. "Welfare Costs of Inflation and the Circulation of U.S. Currency Abroad," The B.E. Journal of Macroeconomics, De Gruyter, vol. 11(1), pages 1-21, May.
  63. Marvin Goodfriend & Bennett T. McCallum, 1988. "Theoretical analysis of the demand of money," Economic Review, Federal Reserve Bank of Richmond, vol. 74(Jan), pages 16-24.
  64. Sudhanshu Kumar, 2014. "The varying interest elasticity and the cost of inflation in India," Applied Economics Letters, Taylor & Francis Journals, vol. 21(7), pages 497-500, May.
  65. Luca Benati, 2018. "Cagan s Paradox Revisited," Diskussionsschriften dp1826, Universitaet Bern, Departement Volkswirtschaft.
  66. Gillman M. & Siklos & P.L.Silver & J.L., 1996. "Money Velocity with Costly Credit," Department of Economics - Working Papers Series 515, The University of Melbourne.
  67. Francisco Rosende & Luis Oscar Herrera, 1991. "Teoría y Política Monetaria: Elementos para el Análisis," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 28(83), pages 55-94.
  68. Tsutomu Watanabe & Tomoyoshi Yabu, 2019. "How Large is the Demand for Money at the ZLB? Evidence from Japan," Working Papers on Central Bank Communication 013, University of Tokyo, Graduate School of Economics.
  69. Peter N. Ireland, 1991. "Financial evolution and the long-run behavior of velocity : new evidence from U.S. regional data," Economic Review, Federal Reserve Bank of Richmond, vol. 77(Nov), pages 16-26.
  70. Michael R. Darby & James R. Lothian, 1986. "Economic Events and Keynesian Ideas: The 1930s and the 1970s," NBER Working Papers 1987, National Bureau of Economic Research, Inc.
  71. Philip Arestis & Alexander Mihailov, 2011. "Classifying Monetary Economics: Fields And Methods From Past To Future," Journal of Economic Surveys, Wiley Blackwell, vol. 25(4), pages 769-800, September.
  72. Serletis, Apostolos & Xu, Libo, 2021. "The welfare cost of inflation," Journal of Economic Dynamics and Control, Elsevier, vol. 128(C).
  73. Edward C. Prescott & Ryan Wessel, 2016. "Monetary Policy with 100 Percent Reserve Banking: An Exploration," NBER Working Papers 22431, National Bureau of Economic Research, Inc.
  74. repec:grz:wpsses:2017-04 is not listed on IDEAS
  75. Aleksander Berentsen & Samuel Huber & Alessandro Marchesiani, 2018. "Limited Commitment and the Demand for Money," Economic Journal, Royal Economic Society, vol. 128(610), pages 1128-1156, May.
  76. Beyer, Andreas, 2009. "A Stable Model for Euro Area Money Demand: Revisiting the Role of Wealth," Working Paper Series 1111, European Central Bank.
  77. Constantine Barasa & George Achoki & Amos Njuguna, 2018. "Determinants of Corporate Cash Holding of Non-Financial Firms Listed on the Nairobi Securities Exchange," International Journal of Business and Management, Canadian Center of Science and Education, vol. 13(9), pages 222-222, August.
  78. Bugshan, Abdullah, 2022. "Oil price volatility and corporate cash holding," Journal of Commodity Markets, Elsevier, vol. 28(C).
  79. Juan Pablo Nicolini, 2019. "Karl Brunner's Contributions to the Theory of the Money Supply," Staff Report 582, Federal Reserve Bank of Minneapolis.
  80. Edward C. Prescott & Ryan Wessel, 2018. "Money in the Production Function," Staff Report 562, Federal Reserve Bank of Minneapolis.
  81. Gerdesmeier, Dieter, 1996. "Die Rolle des Vermögens in der Geldnachfrage," Discussion Paper Series 1: Economic Studies 1996,05, Deutsche Bundesbank.
  82. Lucas, Jr., Robert E., 1995. "Monetary Neutrality," Nobel Prize in Economics documents 1995-1, Nobel Prize Committee.
  83. Karsten Schweikert, 2020. "Oracle Efficient Estimation of Structural Breaks in Cointegrating Regressions," Papers 2001.07949, arXiv.org, revised Apr 2021.
  84. Marvin Goodfriend, 1997. "Monetary policy comes of age: a 20th century odyssey," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 1-22.
  85. Ahmed Khalid, 1999. "Modelling money demand in open economies: the case of selected Asian countries," Applied Economics, Taylor & Francis Journals, vol. 31(9), pages 1129-1135.
  86. Timothy Cogley, 1993. "Adapting to instability in money demand: forecasting money growth with a time-varying parameter model," Economic Review, Federal Reserve Bank of San Francisco, pages 35-41.
  87. Tosun, Onur Kemel & El Kalak, Izidin & Hudson, Robert, 2022. "How female directors help firms to attain optimal cash holdings," International Review of Financial Analysis, Elsevier, vol. 80(C).
  88. Markus Knell & Helmut Stix, 2006. "Three decades of money demand studies: differences and similarities," Applied Economics, Taylor & Francis Journals, vol. 38(7), pages 805-818.
  89. Serletis, Apostolos & Xu, Libo, 2023. "Consumer preferences, the demand for Divisia money, and the welfare costs of inflation," Journal of Macroeconomics, Elsevier, vol. 75(C).
  90. Luca Benati, 2022. "A New Approach to Estimating the Natural Rate of Interest," Diskussionsschriften dp2210, Universitaet Bern, Departement Volkswirtschaft.
  91. Claudiu Tiberiu Albulescu & Dominique Pépin & Stephen Miller, 2016. "The micro-foundations of an open economy money demand: An application to the Central and Eastern European countries," Working Papers hal-01348842, HAL.
  92. Christian Petit, 1974. "Un test économétrique de l'analyse keynésienne de la demande d'encaisses," Revue Économique, Programme National Persée, vol. 25(3), pages 487-498.
  93. McGrattan, Ellen R., 1998. "Trends in velocity and policy expectations : A comment," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 49(1), pages 305-316, December.
  94. Gerlach, Stefan, 2017. "Long-run Money Demand in Switzerland," CEPR Discussion Papers 12356, C.E.P.R. Discussion Papers.
  95. Luca Benati & Juan-Pablo Nicolini, 2019. "The Welfare Costs of Inflation," Diskussionsschriften dp1911, Universitaet Bern, Departement Volkswirtschaft.
  96. Tsutomu Watanabe & Tomoyoshi Yabu, 2023. "The demand for money at the zero interest rate bound," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 38(6), pages 968-976, September.
  97. Lothian, James R., 2009. "U.S. Monetary Policy and the Financial Crisis," The Journal of Economic Asymmetries, Elsevier, vol. 6(3), pages 25-40.
  98. Guerron-Quintana, Pablo A., 2009. "Money demand heterogeneity and the great moderation," Journal of Monetary Economics, Elsevier, vol. 56(2), pages 255-266, March.
  99. Rangan Gupta & Anandamayee Majumdar, 2014. "Reconsidering the welfare cost of inflation in the US: a nonparametric estimation of the nonlinear long-run money-demand equation using projection pursuit regressions," Empirical Economics, Springer, vol. 46(4), pages 1221-1240, June.
  100. Charles W. Calomiris, 1993. "Financial Factors in the Great Depression," Journal of Economic Perspectives, American Economic Association, vol. 7(2), pages 61-85, Spring.
  101. Silveira, Antonio Maria da, 1974. "Moeda," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 13, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
  102. Moloche, Guillermo, 2024. "Inflation and Seigniorage-Financed Fiscal Deficits: The Case of Mexico," MPRA Paper 120925, University Library of Munich, Germany.
  103. Payam MOHAMMAD ALIHA & Tamat SARMIDI & Abu Hassan SHAAR & Fathin FAIZAH SAID, 2017. "Using Ardl Approach To Cointehration For Investigating The Relationship Between Payment Technologies And Money Demand On A World Scale," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 29-37, December.
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