Search IMF Staff Papers

Advanced Search
Journal Description

Editorial Committee

How to Subscribe

Forthcoming Articles

Staff Papers Archive

Copyright Information

Use the free Adobe Acrobat Reader to view pdf files

Free Email Notification

Receive emails when we post new items of interest to you.

Subscribe or Modify your profile

IMF Staff Papers Logo    September 2000
Volume 47, Number 3
A Survey of Recent Empirical Money Demand Studies
By Subramanian S. Sriram

Full Text of this Article (PDF 99 K)

Abstract: This paper surveys a selected number of studies that evaluated the demand for money using the error-correction model approach in the 1990s across a range of industrial and developing countries. It briefly presents issues relevant to modeling and estimating the demand for money; and synthesizes information concerning variables, data period and frequency, unit root and cointegration techniques, stability tests, and findings in a tabular form. In addition, it presents estimated long-run income elasticity and elasticities or semi-elasticities for opportunity cost and other variables in a comparable framework. It aims to provide a reference tool for future research on demand for money in various countries. [JEL E41]

2001 International Monetary Fund