The Transactions Theory of the Demand for Money

A Reconsideration

Dados Bibliográficos

ID10174642
AutoresRobert W Clower, Peter Howitt, Peter W Howitt
Ano1978
Volume86
Fascículo3
Páginas449-466
Data de publicação1978-06-01
Peer ReviewedSim
Open AccessNão
TipoARTICLE
PeriódicoJournal of Political Economy (JOURNAL)
Identificadores do periódicoISSN: 0022-3808 • E-ISSN: 1537-534X
EditoraUniversity of Chicago Press (PUBLISHER • US)
DOI10.1086/260681
OpenAlexW1967114797
IdiomaEN
Citações recebidas3
Referências 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