International Comparisons of Money Demand: A Review Essay

January 1, 1992

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Format: Chicago

James M. Boughton International Comparisons of Money Demand: A Review Essay, (USA: International Monetary Fund, 1992) accessed November 8, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

Many studies of the demand for money, covering a wide variety of economies, have demonstrated the importance of financial innovations and shifts in monetary policy regimes, but they have also illustrated the difficulty of measuring and assessing such changes. Because innovations and regime shifts have differed markedly across countries, international comparisons can help identify their effects. This paper reviews the literature on money demand comparisons, focusing primarily on industrial countries. It finds that innovations have had widespread effects, but also that the demand for money is not generally less stable now than it was before those changes occurred.

Subject: Demand for money, Money

Keywords: Aggregate money demand function, Balance, Buffer-stock model, Demand for money, Error-correction model, Money, Money balance, Money demand equation, WP

Publication Details

Pages:

28
Volume:

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DOI:

---
Issue:

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Series:

Working Paper No. 1992/007
Stock No:

WPIEA0071992
ISBN:

9781451842357
ISSN:

1018-5941

Notes

Reviews the literature on money demand comparisons, focusing primarily on industrial countries.

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