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Applied Economics Volume 41, 2009 - Issue 10: Special Theme: The applied economics of money and inflation
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Original Articles

Demand for money in Thailand

M. Sumner Department of Economics, University of Sussex, Brighton, BN1 9SNCorrespondence[email protected]
Pages 1269-1276 | Published online: 11 Apr 2011
 
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Abstract

After a brief review of recent literature, new estimates on a long run of annual observations of the Thai demand for all the standard measures of money are presented. The results demonstrate that the demand for real money balances is a stable function of a scale variable and a coherent measure of opportunity cost, with all the properties predicted by economic theory.

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