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.
Access Documents
File(s):
File format is text/html
https://fraser.stlouisfed.org/title/economic-quarterly-federal-reserve-bank-richmond-960/may-june-1992-477372?page=7
Description: Full Text
Authors
Bibliographic Information
Provider: Federal Reserve Bank of Richmond
Part of Series: Economic Review
Publication Date: 1992
Volume: 78
Issue: May
Pages: 9-23