JOURNAL ARTICLE
Cite JOURNAL ARTICLE
Style
Format
A Note on “The Existence of a World Demand for Money Function: Preliminary Results”
Credit and Capital Markets – Kredit und Kapital, Vol. 11 (1978), Iss. 3 : pp. 340–347
1 Citations (CrossRef)
Additional Information
Article Details
Zis, George
Cited By
-
„The Existence of a World Demand for Money Function“. A Reply
S., Frowen,
G., Kouris,
Credit and Capital Markets - Kredit und Kapital, Vol. 12 (1979), Iss. 1 P.73
https://doi.org/10.3790/ccm.12.1.73 [Citations: 1]
References
-
1. Duck, N. ana Zis, George (1978): “World Inflation, the Demand for Money and Fixed Exchange Rates”, Scottish Journal of Political Economy.
Google Scholar -
2. Friedman, M. (1956): “The Quantity Theory of Money: A Restatement’” in M. Friedman (ed.) Studies in the Quantity Theory of Money, Chicago, University of Chicago Press.
Google Scholar -
3. Friedman, M. (1970): The Counter-Revolution in Monetary Theory, London, Occasional Paper 33, Institute of Economic Affairs.
Google Scholar -
4. Friedman, M. (1976): “Discussion on Frenkel”, in E. Claassen and P. Salin (eds.) Recent Issues in International Monetary Economics, Amsterdam, North- Holland Publishing Company.
Google Scholar -
5. Frowen, S. and Kouris, G. (1977): “The Existence of a World Demand for Money Function: Preliminary Results”, Kredit und Kapital.
Google Scholar -
6. Gray, M., Ward, R. and Zis, George (1976): “The World Demand for Money Function: Some Preliminary Results” in M. Parkin and George Zis (eds.) Inflation in the World Economy, Manchester, Manchester University Press.
Google Scholar -
7. Johnson, H. G. (1972): Inflation and the Monetarist Controversy, Amsterdam, North-Holland Publishing Company.
Google Scholar -
8. Laidler, David E. W. (1977): The Demand for Money: Theories and Evidence, 2nd Edition, New York, Dun-Donnelly Publishing Corporation.
Google Scholar -
9. Miller, M. (1976): “A Comment” in M. Parkin and George Zis (eds.) Inflation in the World Economy, Manchester, Manchester University Press.
Google Scholar -
10. Mundell, R. (1971): Monetary Theory: Inflation, Interest and Growth in the World Economy, California, Goodyear Publishing.
Google Scholar -
11. Parkin, M. (1976): Inflation in the World Economy: 1958 - 1975, Surrey Papers in Economics, No. 11, Guildford, University of Surrey.
Google Scholar -
12. Parkin, M. (1977): “A ‘“Monetarist’ Analysis of the Generation and: Transmission of World Inflation: 1958- 1971”, American Economic Review Papers and Proceedings.
Google Scholar -
13. Swoboda, A. K. (1973): “Monetary Policy under Fixed Exchange Rates: Effectiveness, the Speed of Adjustment and Proper Use”, Economica.
Google Scholar -
Google Scholar
Abstract
A Note on “The Existence of a World Demand for Money Function: Preliminary Results”
This note argues that the empirical results presented by Frowen and Kouris, contrary to what they allege, are not “in contrast to those in the paper by Gray, Ward and Zis, which found the demand-for-money function to be stable and to show a low, insignificant interest elasticity”. The absence of comparability between the two sets of empirical results stems from the fact that these two studies tested two different hypotheses. In employing the estimating technique which they did, Frowen and Kouris constrained the national income