Money demand and equity markets
By: Seth Carpenter and Joe Lange.
Series: Finance and economics discussion series ;; 2003-03; Finance and economics discussion series (Online) ;; 2003-03.
Publisher: Federal Reserve Board
Published: 2003
Place of publication: Washington, D.C
Language: eng
Format: Electronic resource
Subjects: Demand for money -- Econometric models.; Stock exchanges -- Econometric models.
Description: "Money demand in part reflects a portfolio decision.  As equities have become a significant store of household wealth, it seems plausible that variations in equity markets could affect money demand.  We re-specify a standard money demand equation to include stock market volatility and revisions to analyst earnings projections.  We find that these equity market variables are statistically significant and reduce the errors from money demand models"--Federal Reserve Board web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 7/29/2004.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.