International Evidence on the Demand for Money 419 T

@inproceedings{Fair1997InternationalEO,
  title={International Evidence on the Demand for Money 419 T},
  author={Corey Fair},
  year={1997}
}
One of the current questions in the literature on she demand for money is whether the adjustment of actual lo desired money holdings is in nominal or real terms. This paper describes a simple procedure that can be used to test the nominal against the real hypothesis. The test is carried out for 27 countries. The paper also tests the svuctural stability of the demand for money equations and the corzectnes~ of the dynamic specification. The results are strongly in favor of the nominal adjustment… CONTINUE READING
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