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International comparisons of money demand

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Author Info
James Boughton
Abstract

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. Copyright Kluwer Academic Publishers 1992

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Publisher Info
Article provided by Springer in its journal Open Economies Review.

Volume (Year): 3 (1992)
Issue (Month): 3 (October)
Pages: 323-343
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Handle: RePEc:kap:openec:v:3:y:1992:i:3:p:323-343

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Related research
Keywords: money demand; comparative studies; monetary policy; financial innovations; cointegration; error correction models;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  3. Melitz, Jacques & Correa, Hector, 1970. "International Differences in Income Velocity," The Review of Economics and Statistics, MIT Press, vol. 52(1), pages 12-17, February. [Downloadable!] (restricted)
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  20. Blejer, Mario I., 1978. "Black-market exchange-rate expectations and the domestic demand for money : Some empirical results," Journal of Monetary Economics, Elsevier, vol. 4(4), pages 767-773, November. [Downloadable!] (restricted)
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  24. Hamburger, Michael J., 1977. "The demand for money in an open economy : Germany and the United Kingdom," Journal of Monetary Economics, Elsevier, vol. 3(1), pages 25-40, January. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Bruce Kasman, 1993. "A comparison of monetary policy operating procedures in six industrial countries," Proceedings, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  2. John Morton & Paul Wood, 1993. "Interest rate operating procedures of foreign central banks," Proceedings, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  3. Renato Filosa, 1995. "Money demand stability and currency substitution in six European countries (1980-1992)," BIS Working Papers 30, Bank for International Settlements. [Downloadable!]
  4. Robert B. Kahn & Linda S. Kole, 1993. "Monetary transmission channels in major foreign industrial countries," Proceedings, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
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