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- W1591363232 abstract "This paper uses 20-year average data on money, output, prices and certain other variables from 33 countries to examine the relationships between those variables. It finds evidence for a common demand for money function in which the demand for nominal money has a real income and price elasticity of one, and a negative but small interest elasticity. It also suggests that long-term monetary expansion is primarily though not wholly reflected in inflation. Tests of the rational expectations hypothesis provide at best only weak support for the hypothesis." @default.
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- W1591363232 date "1988-10-01" @default.
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- W1591363232 title "Money, output and prices:" @default.
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- W1591363232 doi "https://doi.org/10.1016/0014-2921(88)90020-7" @default.
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