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2008•RePEc: Research Papers in EconomicsRequires access

On empirical implications of highly interest-elastic money demand: A Note

Kiyotaka Nakashima, Makoto Saito

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Abstract

Based on a standard model of money demand, this paper first shows that a relationship between money supply and prices may be substantially weakened when money demand is highly interest-elastic, and then presents empirical evidence for this implication using the Japanese money market data for the sample period, 1985-1999.

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What this paper is about

Based on a standard model of money demand, this paper first shows that a relationship between money supply and prices may be substantially weakened when money demand is highly interest-elastic, and then presents empirical evidence for this implication using the Japanese money market data for the sample period, 1985-1999.

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Available abstract

Based on a standard model of money demand, this paper first shows that a relationship between money supply and prices may be substantially weakened when money demand is highly interest-elastic, and then presents empirical evidence for this implication using the Japanese money market data for the sample period, 1985-1999.

Key concepts: Economics, Demand for money, Monetary economics, Sample (material), Demand deposit, Interest rate, Broad money, Empirical evidence

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