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A Rationalization of the Precautionary Demand for Cash

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  • Edward L. Whalen

Abstract

Introduction, 314. — Definition of the precautionary demand for cash, 314. — The concepts, 315. — Optimal precautionary cash balances, 316. — Comparison with transactions demand for cash, 320. — Comparison with related studies, 320. — Appendix, 322.

Suggested Citation

  • Edward L. Whalen, 1966. "A Rationalization of the Precautionary Demand for Cash," The Quarterly Journal of Economics, Oxford University Press, vol. 80(2), pages 314-324.
  • Handle: RePEc:oup:qjecon:v:80:y:1966:i:2:p:314-324.
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    Citations

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    Cited by:

    1. Georges Prat, 1988. "Note à propos de l'influence de l'incertitude sur la demande de monnaie," Revue Économique, Programme National Persée, vol. 39(2), pages 451-460.
    2. Edwards, Sebastian, 1983. "The Demand for International Reserves and Exchange Rate Adjustments: The Case of LDCs, 1964-1972," Economica, London School of Economics and Political Science, vol. 50(199), pages 269-280, August.
    3. Podolski, Edward J. & Truong, Cameron & Veeraraghavan, Madhu, 2016. "Cash holdings and bond returns around takeovers," International Review of Financial Analysis, Elsevier, vol. 46(C), pages 1-11.
    4. Christopher F Baum & Mustafa Caglayan & Neslihan Ozkan, 2003. "The Impact of Macroeconomic Uncertainty on Cash Holdings for Non-Financial Firms," Computing in Economics and Finance 2003 69, Society for Computational Economics.
    5. André Babeau, 1973. "Economies d'échelle dans les encaisses monétaires des ménages : une série de tests empiriques," Revue Économique, Programme National Persée, vol. 24(3), pages 401-441.
    6. Fischer, Andreas M., 2014. "Immigration And Large Banknotes," Macroeconomic Dynamics, Cambridge University Press, vol. 18(04), pages 899-919, June.
    7. Sergey Drobyshevsky & G.Kuzmicheva & Elena Sinelnikova & Pavel Trunin, 2010. "Modeling monetary demand in the Russian economy over 1999–2008," Research Paper Series, Gaidar Institute for Economic Policy, issue 136P.
    8. Baum, Christopher F. & Caglayan, Mustafa & Ozkan, Neslihan & Talavera, Oleksandr, 2006. "The impact of macroeconomic uncertainty on non-financial firms' demand for liquidity," Review of Financial Economics, Elsevier, vol. 15(4), pages 289-304.
    9. Michael Dotsey, 1991. "Monetary policy and operating procedures in New Zealand," Economic Review, Federal Reserve Bank of Richmond, issue Sep, pages 13-19.
    10. Telyukova, Irina A. & Visschers, Ludo, 2013. "Precautionary money demand in a business-cycle model," Journal of Monetary Economics, Elsevier, vol. 60(8), pages 900-916.
    11. C.K. Folkertsma & G.E. Hebbink, 1998. "Cash management and choice of payment media: a critical survey of the theory," WO Research Memoranda (discontinued) 532, Netherlands Central Bank, Research Department.
    12. Maurice Obstfeld & Kenneth Rogoff, 1998. "Risk and Exchange Rates," NBER Working Papers 6694, National Bureau of Economic Research, Inc.
    13. Martínez-Venegas, Francisco & Vargas-Avendaño, Blanca Lilia & García-Meza, Mario Alberto, 2017. "El motivo precautorio en la demanda de saldos reales: un enfoque ortodoxo," eseconomía, Escuela Superior de Economía, Instituto Politécnico Nacional, vol. 12(46), pages 7-20, Primer se.
    14. Ben S. Bernanke, 1981. "Permanent Income, Liquidity, and Expenditure on Automobiles: Evidence from Panel Data," NBER Working Papers 0756, National Bureau of Economic Research, Inc.
    15. Louis Eeckhoudt & Henri Sneessens & Francis Calcoen, 1989. "L'épargne de précaution : une analyse géométrique," Revue Économique, Programme National Persée, vol. 40(1), pages 21-34.
    16. Jacob A. Frenkel & Boyan Jovanovic, 1980. "On Transactions and Precautionary Demand for Money," The Quarterly Journal of Economics, Oxford University Press, vol. 95(1), pages 25-43.
    17. Geoffrey R. Dunbar, 2014. "Demographics and the Demand for Currency," Staff Working Papers 14-59, Bank of Canada.
    18. Elena Sinelnikova-Muryleva, 2011. "Innovations in the sphere of payments and the money demand in Russia," Research Paper Series, Gaidar Institute for Economic Policy, issue 157P.
    19. repec:spr:annopr:v:267:y:2018:i:1:d:10.1007_s10479-016-2359-1 is not listed on IDEAS
    20. Lehto, Taru, 1994. "The level of a central bank's international reserves : theory and cross-country analysis," Research Discussion Papers 15/1994, Bank of Finland.
    21. Jovis Wolfe Bellot, . "The Stability of the Demand for Broad Money in Argentina in the Post-Financial Liberalization Period," Fordham Economics Dissertations, Fordham University, Department of Economics, number 2002.2.

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