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Nonlinear equilibrium correction in US real money balances, 1869-1997
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Sarno, Lucio, Taylor, Mark P. and Peel, David A. (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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Official URL: http://www.jstor.org/stable/3649828?seq=1#page_sca...
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 | ||||
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Subjects: | H Social Sciences > HG Finance H Social Sciences > HC Economic History and Conditions |
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Divisions: | Faculty of Social Sciences > Warwick Business School | ||||
Journal or Publication Title: | Journal of Money, Credit and Banking | ||||
Publisher: | Wiley-Blackwell Publishing, Inc. | ||||
ISSN: | 0022-2879 | ||||
Official Date: | October 2003 | ||||
Dates: |
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Volume: | 35 | ||||
Number: | 5 | ||||
Number of Pages: | 13 | ||||
Page Range: | pp. 787-799 | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access |
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