Measurement error and a reinterpretation of the conventional money demand regression
It has been sixteen years since a partial adjustment model was first applied in empirical money demand studies by Chow . Since then the partial adjustment specification has become widely used, particularly in quarterly money demand studies. However, in spite of its widespread use, the theoretical rationalization for the partial adjustment specification has never been entirely satisfactory.
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- Carr, Jack & Darby, Michael R., 1981.
"The role of money supply shocks in the short-run demand for money,"
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- Anthony M. Santomero & John J. Seater, "undated". "Partial Adjustment in the Deman for Money Theory and Empirics," Rodney L. White Center for Financial Research Working Papers 02-79, Wharton School Rodney L. White Center for Financial Research.
- Anthony M. Santomero & John J. Seater, "undated". "Partial Adjustment in the Deman for Money Theory and Empirics," Rodney L. White Center for Financial Research Working Papers 2-79, Wharton School Rodney L. White Center for Financial Research.
- Goldberger, Arthur S, 1972. "Structural Equation Methods in the Social Sciences," Econometrica, Econometric Society, vol. 40(6), pages 979-1001, November.
- William J. Baumol, 1952. "The Transactions Demand for Cash: An Inventory Theoretic Approach," The Quarterly Journal of Economics, Oxford University Press, vol. 66(4), pages 545-556.
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- Jared Enzler & Lewis Johnson & John Paulus, 1976. "Some Problems of Money Demand," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 7(1), pages 261-282.
- Darby, Michael R, 1972. "The Allocation of Transitory Income Among Consumers' Assets," American Economic Review, American Economic Association, vol. 62(5), pages 928-941, December.
- Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 1(1), pages 19-46, January.
- Stephen M. Goldfeld, 1976. "The Case of the Missing Money," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 7(3), pages 683-740. Full references (including those not matched with items on IDEAS)
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