Journal Article

An error-correction model of U.S. M2 demand


Abstract: An error-correction model is used to study the long- and short-run determinants of U.S. demand for M2. The money demand function presented here exhibits parameter stability and predicts quite well the actual behavior of M2 growth in the 1980s.

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Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Economic Review

Publication Date: 1991

Volume: 77

Issue: May

Pages: 3-12