International Comparisons of Money Demand: A Review Essay

Author/Editor:

James M. Boughton

Publication Date:

January 1, 1992

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

Many studies of the demand for money, covering a wide variety of economies, have demonstrated the importance of financial innovations and shifts in monetary policy regimes, but they have also illustrated the difficulty of measuring and assessing such changes. Because innovations and regime shifts have differed markedly across countries, international comparisons can help identify their effects. This paper reviews the literature on money demand comparisons, focusing primarily on industrial countries. It finds that innovations have had widespread effects, but also that the demand for money is not generally less stable now than it was before those changes occurred.

Series:

Working Paper No. 1992/007

Subject:

Demand for money Money

Notes:

Reviews the literature on money demand comparisons, focusing primarily on industrial countries.

English

Publication Date:

January 1, 1992

ISBN/ISSN:

9781451842357/1018-5941

Stock No:

WPIEA0071992

Pages:

28

Please address any questions about this title to publications@imf.org