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• W2091353021 endingPage "709" @default.
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• W2091353021 abstract "In a general equilibrium framework incorporating the money-in-the-utility function approach, we show that output uncertainty and monetary uncertainty as well as output, interest rates, and financial innovations affect money demand. The estimated long-run relationships are consistent with our postulated relation but not with the conventional one. Our model delivers a high income elasticity consistent with cross-sectional evidence and helps resolve M1 demand puzzles. The model estimated in dynamic error correction form exhibits a good level of stability and forecastability, providing little support for the recent de-emphasis of monetary aggregates due to the instability of money demand." @default.
• W2091353021 created "2016-06-24" @default.
• W2091353021 creator A5048532210 @default.
• W2091353021 creator A5062255558 @default.
• W2091353021 date "2003-01-01" @default.
• W2091353021 modified "2023-09-25" @default.
• W2091353021 title "A Money Demand Function with Output Uncertainty, Monetary Uncertainty, and Financial Innovations" @default.
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• W2091353021 doi "https://doi.org/10.1353/mcb.2003.0034" @default.
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