43
Views
1
CrossRef citations to date
0
Altmetric
Original Articles

Financial Innovations And Demand For United States M1 And M2 Components

Pages 73-93 | Published online: 28 Jul 2006

References

  • Arrau , Patricio and Jose De , Gregorio . 1993 . Financial Innovation and Money Demand: Application to Chile and Mexico . Review of Economics and Statistics , August : 524 – 530 .
  • Arrau , Patricio , Jose De , Gregorio , Reinhart , Carmen and Wickham , Peter . 1995 . The Demand for Money in Developing Countries: Assessing the Role of Financial Innovation . Journal of Development Economics , April : 317 – 340 .
  • Barnett , William . 1997 . Which Road Leads to Stable Money Demand? . Economic Journal , July : 1171 – 1185 .
  • Baytas , A. and Marty , A. 1989 . The Interest Elasticity of Money Demand: Further Evidence . Eastern Economic Journal , 15 : 107 – 111. .
  • Cagan , Phillip and Anna , Schwartz . 1975 . Has the Growth of Money Substitution Hindered Monetary Policy? . Journal of Money, Credit and Banking , February : 137 – 159 .
  • Carlson , John . 1989 . The Stability of Money Demand, its Interest Sensitivity, and Some Implications for Money as a Policy Guide . Federal Reserve Bank of Cleveland Economic Review , 1 Quarter : 2 – 13 .
  • Dickey , David and Fuller , Wayne . 1979 . Distribution of the Estimators for Autoregressive Time Series with a Unite Root . Journal of the American Statistical Association , June : 427 – 431 .
  • Dickey , David , Dennis , Jansen and Thornton , Daniel . 1991 . A Primer or Cointegration with an Application to Money and Income . Federal Reserve Bank of St.Louis Review , March/April : 58 – 78 .
  • Friedman , Benjamin . 1988 . Lessons on Monetary Policy from the 1980s . Journal of Economic Perspectives , Summer : 22 – 40 .
  • Friedman , Milton . 1956 . “ The Quantity Theory of Money: A Restatement ” . In Studies in the Quantity Theory of Money , Chicago : University of Chicago Press .
  • Friedman , Milton and Schwartz , Anna J. 1982 . Monetary Trends in the United States and the United Kingdom: Their Relation to Income, Prices, and interest Rates 1867–1975 , Chicago : University of Chicago Press .
  • Gauger , Jean . 1992 . Portfolio Redistribution Impacts within the Narrow Monetary Aggregate . Journal of Money, Credit, and Banking , May : 239 – 257 .
  • Dennis , Glennon and Julia , Lane . 1996 . Financial Innovations, New Assets, and the Behaviour of Money Demand . Journal of Banking and Finance , March : 207 – 225 .
  • Gonzalo , Jesus . 1994 . Five Alternative Methods of Estimating Long Run Equilibrium Relationship . Journal of Econometrics , October : 203 – 233 .
  • Gurley , John . 1960 . Money in a Theory of Finance , Washington, DC : The Brookings Institution .
  • Hafer , R. and Scott , Hein . 1984 . Financial Innovations and the Interest Elasticities of Money Demand: Some Historical Evidence . Journal of Money, Credit, and Banking , May : 247 – 252 .
  • Hafer , R. 1984 . The Money-GNP Link: Assessing Alternative Transactions Measures . Federal Reserve Bank of St. Louis Review , March : 19 – 27 .
  • Harris , Richard . 1995 . Cointegration Analysis in Econometric Modelling , London : Prendice Hall/Harvester Wheatsheaf .
  • Hester , Donald . 1981 . “ Innovations and Monetary Control. ” . In Brookings Papers on Economic Activity Vol. 1 , 141 – 189 .
  • Hetzel , Robert . 1989 . The Behaviour of Money Demand in the 1980s . Journal of Money, Credit, and Banking , November : 455 – 463 .
  • Hoffman , Dennis and Rasche , Robert . 1996 . Aggregate Money Demand Function , London : Kluwer Academic Publisher .
  • Johansen , Soren . 1988 . Statistical Analysis of Cointegration Vectors . Journal of Economic Dynamic and Control , March : 231 – 254 .
  • Johansen , Soren and Juselius , Katarina . 1990 . Maximum Likelihood Estimation and Inference on Cointegration-With Application to the Demand for Money . Oxford Bulletin of Economics and Statistics , May : 169 – 210 .
  • Kwiatkowski , Denis , Phillips , Peter , Schmidt , Peter and Shin , Yongcheol . 1992 . Testing the Null Hypothesis of Stationarity against the Alternative of a Unite Root: How Sure are we that Economic Time series have a Unit Root? . Journal of Econometrics , October : 159 – 178 .
  • Madura , Jeff . 1992 . Financial Markets and Institution , New York : West Publishing Company .
  • Mehra , Yash . 1989 . Some Further Results on the Source of Shift in M1 Demand in the 1980s . Federal Reserve Bank of Richmond Economic Review , September/October : 3 – 13 .
  • Moghaddam , Masoud . 1997 . Financial Innovations and the Interest Elasticity of Money Demand: Evidence from an Error Correction Model. . American Economic Journal , June : 155 – 163 .
  • Poole , William . 1988 . Monetary Policy Lessons of Recent Inflation and Disinflation . Journal of Economic Perspectives , Summer : 73 – 100 .
  • Rasche , Robert . “ M1 Velocity and Money Demand Function: Do Stable Relationship Exist? ” . In Empirical Studies of velocity, Real Exchange Rates, Unemployment and Productivity , Carnegie-Rochester Series on Public Policy Edited by: Karl , Bunner and Meltzer , Allen H. 9 – 88 .
  • Rasche , Robert . 1988 . Monetary Policy and Financial Deregulation in the United States . Kredit and Kapital , November : 451 – 468 .
  • Swamy , P. and Tavlas , G. 1989 . Financial Deregulation, the Demand, for Money, and Monetary Policy in Australia . International Monetary Fund Staff Papers , : 63 – 101 .
  • Tatom , John . 1990 . The Effects of Financial Innovations of Checkable Deposits, M1 and M2 . Federal Reserve Bank of St. Louis Review , July/August : 37 – 57 .

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.