Human and Nonhuman Wealth in Demand-for-Money Functions
Bibliographic Data
| ID | 10176013 |
|---|---|
| Authors | G S Laumas, Ravi Ram (0000-0003-2339-6477), Rati Ram |
| Year | 1980 |
| Volume | 88 |
| Issue | 1 |
| Pages | 186-193 |
| Publication date | 1980-02-01 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/260854 |
| OpenAlex | W2015040914 |
| Language | EN |
| Citations received | 1 |
| References cited | 4 |
Using Kendrick's recently published data on human and nonhuman wealth in the United States, log-linear money demand functions of the "partial adjustment" variety are estimated by introducing in each nonhuman, total, or human wealth as the scale or the "constraint" variable. It is found that the long-run elasticity of money demand with respect to nonhuman wealth is somewhat larger than that with respect to total wealth, and the elasticity with respect to human wealth is the lowest. Such a structure in the elasticities is observed consistently, although differences between the elasticities are not large and perhaps not statistically significant
Constraint (computer-aided design · Econometrics · Economics · Elasticity (physics · Microeconomics · Monetary economics · Price elasticity of demand · Variable (mathematics · Wealth elasticity of demand · Economic theories and models · Economic Theory and Policy · Mathematics · Monetary Policy and Economic Impact
| Citations per year | 0.02 |
|---|---|
| Citation span | 1985 - 1985 (1) |
| Highly cited | No |