The precautionary demand for money - A rigorous foundation
Consumers' demand for money to hold is shown rigorously to be related to possible but uncertain purchase opportunities rather than to total consumption (income) or to the variability of bond yields. A formal model of consumers' demand for precautionary balances is analyzed. It implies that...
Ausführliche Beschreibung
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| Autor*in: |
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| Format: |
E-Artikel |
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| Sprache: |
Englisch |
| Erschienen: |
1980 |
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| Reproduktion: |
Elsevier Journal Backfiles on ScienceDirect 1907 - 2002 |
|---|---|
| Übergeordnetes Werk: |
in: Journal of Monetary Economics - Amsterdam : Elsevier, 6(1980), 3, Seite 419-432 |
| Übergeordnetes Werk: |
volume:6 ; year:1980 ; number:3 ; pages:419-432 |
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(DE-627)NLEJ176831452 (DE-599)GBVNLZ176831452 DE-627 ger DE-627 rakwb eng The precautionary demand for money - A rigorous foundation 1980 nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier Consumers' demand for money to hold is shown rigorously to be related to possible but uncertain purchase opportunities rather than to total consumption (income) or to the variability of bond yields. A formal model of consumers' demand for precautionary balances is analyzed. It implies that cash balances demanded will be changed by different amounts in response to equivalent changes in the rates of time preference and inflation. This perhaps explains recent instability in money demand estimates. Elsevier Journal Backfiles on ScienceDirect 1907 - 2002 Plessner, Y. oth Reid, J.D. oth in Journal of Monetary Economics Amsterdam : Elsevier 6(1980), 3, Seite 419-432 (DE-627)NLEJ176719210 (DE-600)1460612-4 0304-3932 nnns volume:6 year:1980 number:3 pages:419-432 http://dx.doi.org/10.1016/0304-3932(80)90050-1 GBV_USEFLAG_H ZDB-1-SDJ GBV_NL_ARTICLE AR 6 1980 3 419-432 |
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(DE-627)NLEJ176831452 (DE-599)GBVNLZ176831452 DE-627 ger DE-627 rakwb eng The precautionary demand for money - A rigorous foundation 1980 nicht spezifiziert zzz rdacontent nicht spezifiziert z rdamedia nicht spezifiziert zu rdacarrier Consumers' demand for money to hold is shown rigorously to be related to possible but uncertain purchase opportunities rather than to total consumption (income) or to the variability of bond yields. A formal model of consumers' demand for precautionary balances is analyzed. It implies that cash balances demanded will be changed by different amounts in response to equivalent changes in the rates of time preference and inflation. This perhaps explains recent instability in money demand estimates. Elsevier Journal Backfiles on ScienceDirect 1907 - 2002 Plessner, Y. oth Reid, J.D. oth in Journal of Monetary Economics Amsterdam : Elsevier 6(1980), 3, Seite 419-432 (DE-627)NLEJ176719210 (DE-600)1460612-4 0304-3932 nnns volume:6 year:1980 number:3 pages:419-432 http://dx.doi.org/10.1016/0304-3932(80)90050-1 GBV_USEFLAG_H ZDB-1-SDJ GBV_NL_ARTICLE AR 6 1980 3 419-432 |
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Consumers' demand for money to hold is shown rigorously to be related to possible but uncertain purchase opportunities rather than to total consumption (income) or to the variability of bond yields. A formal model of consumers' demand for precautionary balances is analyzed. It implies that cash balances demanded will be changed by different amounts in response to equivalent changes in the rates of time preference and inflation. This perhaps explains recent instability in money demand estimates. |
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Consumers' demand for money to hold is shown rigorously to be related to possible but uncertain purchase opportunities rather than to total consumption (income) or to the variability of bond yields. A formal model of consumers' demand for precautionary balances is analyzed. It implies that cash balances demanded will be changed by different amounts in response to equivalent changes in the rates of time preference and inflation. This perhaps explains recent instability in money demand estimates. |
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Consumers' demand for money to hold is shown rigorously to be related to possible but uncertain purchase opportunities rather than to total consumption (income) or to the variability of bond yields. A formal model of consumers' demand for precautionary balances is analyzed. It implies that cash balances demanded will be changed by different amounts in response to equivalent changes in the rates of time preference and inflation. This perhaps explains recent instability in money demand estimates. |
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