The Transactions Theory of the Demand for Money

A Reconsideration

Datos Bibliográficos

ID10174642
AutoresRobert W Clower, Peter Howitt, Peter W Howitt
Año1978
Volumen86
Número3
Páginas449-466
Fecha de publicación1978-06-01
Peer ReviewedSí
Open AccessNo
TipoARTICLE
RevistaJournal of Political Economy (JOURNAL)
Identificadores de la revistaISSN: 0022-3808 • E-ISSN: 1537-534X
EditorialUniversity of Chicago Press (PUBLISHER • US)
DOI10.1086/260681
OpenAlexW1967114797
IdiomaEN
Citas recibidas3
Referencias citadas9

This paper deals with a class of models of the demand for money that includes the Baumol-Tobin and other inventory-theoretic models as special cases. Among other things, the analysis shows that many supposedly robust comparative-statics propositions derived by earlier writers do not survive even modest generalization. More generally, the results of the paper strongly reinforce other recent research in indicating the need for a wholesale reconstruction of the microfoundations of contemporary monetary theory

Class (philosophy · Comparative statics · Demand for money · Econometrics · Economics · Generalization · Keynesian economics · Mathematical economics · Microeconomics · Microfoundations · Monetary policy · Monetary theory · Neoclassical economics · Quantity theory of money · Speculative demand · Computer Science · Economic theories and models · Economic Theory and Policy · Mathematics · Monetary Policy and Economic Impact