General or Specific - An Investigation into Demand for Money Functions in LDC's
Empirical work on money demand om developed economies pertains to be based on sound microeconomic principles. If this is truly the case, estimated models should be unaffected by country boundaries, given that as economists we believe the majority of people to be motivated by the same basic forces. In the development literature, however, it is usually maintained that the problems of LDC's must be taken specifically into account, which would appear to contradict the above argument.
|Date of creation:||1985|
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