Household sector money demand for the UK

Rakesh Bissoondeeal; Barry E. Jones; Jane Binner; Andrew W. Mullineux

doi:10.1111/j.1467-9957.2010.02207.x

Household sector money demand for the UK

Rakesh Bissoondeeal, Barry E. Jones, Jane Binner, Andrew W. Mullineux

Research output: Contribution to journal › Article › peer-review

Abstract

We test for the existence of a long-run money demand relationship for the UK involving household-sector Divisia and simple sum monetary indexes for the period from 1977 to 2008. We construct our Divisia index using non-break-adjusted levels and break-adjusted flows following the Bank of England. We test for cointegration between the real Divisia and simple sum indexes, their corresponding opportunity cost measures, real income and real share prices. Our results support the existence of a long-run money demand relationship for both the Divisia and simple sum indexes.

Original language	English
Pages (from-to)	90-113
Number of pages	24
Journal	Manchester School
Volume	78
Issue number	s1
Early online date	3 Aug 2010
DOIs	https://doi.org/10.1111/j.1467-9957.2010.02207.x
Publication status	Published - Sept 2010

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Household sector money demand for the UK

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