The stability of money demand, its interest sensitivity, and some implications for money as a policy guide
AbstractAn 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.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Cleveland in its journal Economic Review.
Volume (Year): (1989)
Issue (Month): Q III ()
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- John B. Carlson & Susan M. Byrne, 1992. "Recent behavior of velocity: alternative measures of money," Economic Review, Federal Reserve Bank of Cleveland, issue Q I, pages 2-10.
- 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.
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