UNSPECIFIED (2003) Nonlinear equilibrium correction in US real money balances, 1869-1997. JOURNAL OF MONEY CREDIT AND BANKING, 35 (5). pp. 787-799. ISSN 0022-2879

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Abstract

Several theoretical models of money demand imply nonlinear functional forms for the aggregate demand for money, characterized by smooth adjustment toward long-run equilibrium. In this paper, we propose a nonlinear equilibrium correction model of U.S. money demand that is shown to be stable over the sample period from 1869 to 1997.

Item Type:	Journal Article
Subjects:	H Social Sciences > HG Finance H Social Sciences > HC Economic History and Conditions
Journal or Publication Title:	JOURNAL OF MONEY CREDIT AND BANKING
Publisher:	OHIO STATE UNIV PRESS
ISSN:	0022-2879
Date:	October 2003
Volume:	35
Number:	5
Number of Pages:	13
Page Range:	pp. 787-799
Publication Status:	Published
URI:	http://wrap.warwick.ac.uk/id/eprint/9273

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