Journal Article
In search of a stable, short-run M1 demand function
Abstract: Conventional M1 demand functions reformulated using error-correction and cointegration techniques neither depict parameter stability nor satisfactorily explain short-run changes in M1. Thus, M1 remains unreliable as an indicator variable for monetary policy.
Keywords: Money supply;
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Bibliographic Information
Provider: Federal Reserve Bank of Richmond
Part of Series: Economic Review
Publication Date: 1992
Volume: 78
Issue: May
Pages: 9-23