Buffer-Stock Models of Money Demand and the Conduct of Monetary Policy

Journal of Policy Modeling, Summer 1990

29 Pages Posted: 8 Nov 2004  

James R. Lothian

Gabelli School of Business, Fordham University; National Bureau of Economic Research (NBER)

Michael R. Darby

University of California, Los Angeles (UCLA) - Global Economics and Management (GEM) Area; National Bureau of Economic Research (NBER)

Michael Tindall

Discount Corporattion of New York

Abstract

Popular wisdom informs us that one of the prime victims of the American financial deregulation of the last decade has been the demand for money function. While there is some evidence that the demise of standard monetary relations has been oversold (see Rasche 1987, 1988, and Darby, Mascaro, and Marlow, 1989), it is with some trepidation that we agreed to reexamine functional forms which we helped develop in 1980.

Suggested Citation

Lothian, James R. and Darby, Michael R. and Tindall, Michael, Buffer-Stock Models of Money Demand and the Conduct of Monetary Policy. Journal of Policy Modeling, Summer 1990. Available at SSRN: https://ssrn.com/abstract=614043

James R. Lothian (Contact Author)

Gabelli School of Business, Fordham University ( email )

113 West 60th Street
New York, NY 10023
United States
212-636-6147 (Phone)
212-765-5573 (Fax)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Michael R. Darby

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

University of California, Los Angeles (UCLA) - Global Economics and Management (GEM) Area ( email )

110 Westwood Plaza
Box 951481
Los Angeles, CA 90095-1481
United States
310-825-4180 (Phone)
310-454-2748 (Fax)

Michael Tindall

Discount Corporattion of New York

No Address Available

Paper statistics

Downloads
149
Rank
162,359
Abstract Views
1,501