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Cross-Country Estimates of the Demand for Money and Its Components

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Author Info
Kenny, Lawrence W

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Abstract

The demand for money aggregates (M1, M2) and their components (currency, demand deposits, and time deposits) are estimated using a sample of 103 countries at two time periods. Money demand is found to be affected by age, literacy, industrial development, and political structure, as well as income and inflation. This expanded demand function helps to explain the considerable changes in money demand found across countries. The knowledge thus gained is useful for understanding differences in monetary and taxation policies across countries. Copyright 1991 by Oxford University Press.

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Publisher Info
Article provided by Oxford University Press in its journal Economic Inquiry.

Volume (Year): 29 (1991)
Issue (Month): 4 (October)
Pages: 696-705
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Handle: RePEc:oup:ecinqu:v:29:y:1991:i:4:p:696-705

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  1. James Boughton, 1992. "International comparisons of money demand," Open Economies Review, Springer, vol. 3(3), pages 323-343, October. [Downloadable!] (restricted)
  2. Lawrence W. Kenny & Stanley L. Winer, 2001. "Tax Systems in the World - An Empirical Investigation into the Importance of Tax Bases, Collection Costs, and Political Regime," Carleton Economic Papers 01-03, Carleton University, Department of Economics. [Downloadable!]
  3. Lawrence Kenny & Stanley Winer, 2006. "Tax Systems in the World: An Empirical Investigation into the Importance of Tax Bases, Administration Costs, Scale and Political Regime," International Tax and Public Finance, Springer, vol. 13(2), pages 181-215, May. [Downloadable!] (restricted)
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This page was last updated on 2009-11-19.

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