TY  - BOOK
AU  - Ball,Laurence
ED  - National Bureau of Economic Research.
TI  - Another Look at Long-Run Money Demand
T2  - NBER working paper series
PY  - 1998///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - June 1998; Hardcopy version available to institutional subscribers
N2  - This paper investigates the long-run demand for M1 in the postwar United States.  Previous  studies, based on data ending in the late 1980's, are inconclusive about the parameters of postwar money demand.  This paper obtains precise estimates of these parameters by extending the data through 1996.  The income elasticity of money demand is approximately 0.5, and the interest semi-elasticity is approximately -0.05.  These parameters are significantly smaller in absolute value than the corresponding parameters for the prewar period
UR  - https://www.nber.org/papers/w6597
UR  - http://dx.doi.org/10.3386/w6597
ER  -