International Comparisons of Money Demand: A Review Essay

IMF Working Papers, January 1, 1992

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International Comparisons of Money Demand: A Review Essay

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Bibliographic details

• Authors: James M. Boughton
• Published: January 1, 1992
• Series: IMF Working Papers
• DOI: https://doi.org/10.5089/9781451842357.001

Overview

• Author: James M. Boughton
• Date: January 1, 1992
• Series: Working Paper No. 1992/007
• Issue: 007
• Summary of scope: Reviews the literature on money demand comparisons, focusing primarily on industrial countries.

Key findings

• Many studies of the demand for money, covering a wide variety of economies, have demonstrated the importance of financial innovations and shifts in monetary policy regimes.
• Measuring and assessing financial innovations and regime shifts is difficult.
• Innovations and regime shifts have differed markedly across countries, making international comparisons useful for identifying their effects.
• The paper finds that innovations have had widespread effects.
• The demand for money is not generally less stable now than it was before those changes occurred.

Subject matter and keywords

• Subject: Demand for money, Money
• Keywords: aggregate money demand function, balance, buffer-stock model, Demand for money, error-correction model, money, money balance, money demand equation, WP