{"id":"https://openalex.org/W4361812010","doi":"https://doi.org/10.3386/w22475","title":"International Evidence on Long Run Money Demand","display_name":"International Evidence on Long Run Money Demand","publication_year":2016,"publication_date":"2016-07-01","ids":{"openalex":"https://openalex.org/W4361812010","doi":"https://doi.org/10.3386/w22475"},"language":"en","primary_location":{"id":"doi:10.3386/w22475","doi":"https://doi.org/10.3386/w22475","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w22475","pdf_url":"https://doi.org/10.3386/w22475","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"volume":null,"type":"report","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.3386/w22475","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5077550865","display_name":"Luca Benati","orcid":"https://orcid.org/0000-0002-0127-4885","observed_orcids":["https://orcid.org/0000-0002-0127-4885"]},"institutions":[{"id":"https://openalex.org/I118564535","display_name":"University of Bern","ror":"https://ror.org/02k7v4d05","country_code":"CH","type":"education","lineage":["https://openalex.org/I118564535"]},{"id":"https://openalex.org/I119878761","display_name":"Federal Reserve Bank of Atlanta","ror":"https://ror.org/05qg1tz58","country_code":"US","type":"other","lineage":["https://openalex.org/I119878761","https://openalex.org/I1317239608"]},{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I40347166","display_name":"University of Chicago","ror":"https://ror.org/024mw5h28","country_code":"US","type":"education","lineage":["https://openalex.org/I40347166"]}],"countries":["CH","US"],"is_corresponding":false,"raw_author_name":"Luca Benati","raw_affiliation_strings":["Department of Economics University of Bern Schanzeneckstrasse 1 CH-3001 Bern, SWITZERLAND","Department of Economics The University of Chicago 1126 East 59th Street Chicago, IL 60637 and","Federal Reserve Bank of Atlanta","Minneapolis and Universidad Di Tella","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics University of Bern Schanzeneckstrasse 1 CH-3001 Bern, SWITZERLAND","institution_ids":["https://openalex.org/I118564535"]},{"raw_affiliation_string":"Department of Economics The University of Chicago 1126 East 59th Street Chicago, IL 60637 and","institution_ids":["https://openalex.org/I40347166"]},{"raw_affiliation_string":"Federal Reserve Bank of Atlanta","institution_ids":["https://openalex.org/I119878761"]},{"raw_affiliation_string":"Minneapolis and Universidad Di Tella","institution_ids":[]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5103261172","display_name":"Robert Lucas","orcid":"https://orcid.org/0000-0003-3442-5106","observed_orcids":["https://orcid.org/0000-0003-3442-5106"]},"institutions":[{"id":"https://openalex.org/I118564535","display_name":"University of Bern","ror":"https://ror.org/02k7v4d05","country_code":"CH","type":"education","lineage":["https://openalex.org/I118564535"]},{"id":"https://openalex.org/I119878761","display_name":"Federal Reserve Bank of Atlanta","ror":"https://ror.org/05qg1tz58","country_code":"US","type":"other","lineage":["https://openalex.org/I119878761","https://openalex.org/I1317239608"]},{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I40347166","display_name":"University of Chicago","ror":"https://ror.org/024mw5h28","country_code":"US","type":"education","lineage":["https://openalex.org/I40347166"]}],"countries":["CH","US"],"is_corresponding":false,"raw_author_name":"Robert Lucas","raw_affiliation_strings":["Department of Economics The University of Chicago 1126 East 59th Street Chicago, IL 60637 and","Department of Economics University of Bern Schanzeneckstrasse 1 CH-3001 Bern, SWITZERLAND","Federal Reserve Bank of Atlanta","Minneapolis and Universidad Di Tella","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics The University of Chicago 1126 East 59th Street Chicago, IL 60637 and","institution_ids":["https://openalex.org/I40347166"]},{"raw_affiliation_string":"Department of Economics University of Bern Schanzeneckstrasse 1 CH-3001 Bern, SWITZERLAND","institution_ids":["https://openalex.org/I118564535"]},{"raw_affiliation_string":"Federal Reserve Bank of Atlanta","institution_ids":["https://openalex.org/I119878761"]},{"raw_affiliation_string":"Minneapolis and Universidad Di Tella","institution_ids":[]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5076975377","display_name":"Juan Pablo Nicolini","orcid":"https://orcid.org/0000-0002-3138-6343","observed_orcids":["https://orcid.org/0000-0002-3138-6343"]},"institutions":[{"id":"https://openalex.org/I118564535","display_name":"University of Bern","ror":"https://ror.org/02k7v4d05","country_code":"CH","type":"education","lineage":["https://openalex.org/I118564535"]},{"id":"https://openalex.org/I119878761","display_name":"Federal Reserve Bank of Atlanta","ror":"https://ror.org/05qg1tz58","country_code":"US","type":"other","lineage":["https://openalex.org/I119878761","https://openalex.org/I1317239608"]},{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I40347166","display_name":"University of Chicago","ror":"https://ror.org/024mw5h28","country_code":"US","type":"education","lineage":["https://openalex.org/I40347166"]}],"countries":["CH","US"],"is_corresponding":false,"raw_author_name":"Juan Pablo Nicolini","raw_affiliation_strings":["NBER","Department of Economics The University of Chicago 1126 East 59th Street Chicago, IL 60637 and","Department of Economics University of Bern Schanzeneckstrasse 1 CH-3001 Bern, SWITZERLAND","Federal Reserve Bank of Atlanta","Minneapolis and Universidad Di Tella","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"NBER","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"Department of Economics The University of Chicago 1126 East 59th Street Chicago, IL 60637 and","institution_ids":["https://openalex.org/I40347166"]},{"raw_affiliation_string":"Department of Economics University of Bern Schanzeneckstrasse 1 CH-3001 Bern, SWITZERLAND","institution_ids":["https://openalex.org/I118564535"]},{"raw_affiliation_string":"Federal Reserve Bank of Atlanta","institution_ids":["https://openalex.org/I119878761"]},{"raw_affiliation_string":"Minneapolis and Universidad Di Tella","institution_ids":[]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5041403418","display_name":"Warren E. Weber","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I118564535","display_name":"University of Bern","ror":"https://ror.org/02k7v4d05","country_code":"CH","type":"education","lineage":["https://openalex.org/I118564535"]},{"id":"https://openalex.org/I119878761","display_name":"Federal Reserve Bank of Atlanta","ror":"https://ror.org/05qg1tz58","country_code":"US","type":"other","lineage":["https://openalex.org/I119878761","https://openalex.org/I1317239608"]},{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I40347166","display_name":"University of Chicago","ror":"https://ror.org/024mw5h28","country_code":"US","type":"education","lineage":["https://openalex.org/I40347166"]}],"countries":["CH","US"],"is_corresponding":false,"raw_author_name":"Warren Weber","raw_affiliation_strings":["Federal Reserve Bank of Atlanta","Department of Economics The University of Chicago 1126 East 59th Street Chicago, IL 60637 and","Department of Economics University of Bern Schanzeneckstrasse 1 CH-3001 Bern, SWITZERLAND","Minneapolis and Universidad Di Tella","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Federal Reserve Bank of Atlanta","institution_ids":["https://openalex.org/I119878761"]},{"raw_affiliation_string":"Department of Economics The University of Chicago 1126 East 59th Street Chicago, IL 60637 and","institution_ids":["https://openalex.org/I40347166"]},{"raw_affiliation_string":"Department of Economics University of Bern Schanzeneckstrasse 1 CH-3001 Bern, SWITZERLAND","institution_ids":["https://openalex.org/I118564535"]},{"raw_affiliation_string":"Minneapolis and Universidad Di Tella","institution_ids":[]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":4,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":22,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9980000257492065,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9980000257492065,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.0012000000569969416,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/long-run-money-demand","display_name":"long-run money demand","score":0.9580000042915344},{"id":"https://openalex.org/keywords/m1-money-supply","display_name":"M1 money supply","score":0.7369999885559082},{"id":"https://openalex.org/keywords/velocity-of-money","display_name":"velocity of money","score":0.8899999856948853},{"id":"https://openalex.org/keywords/short-term-interest-rates","display_name":"short-term interest rates","score":0.7889999747276306},{"id":"https://openalex.org/keywords/cointegration","display_name":"cointegration","score":0.7429999709129333},{"id":"https://openalex.org/keywords/inflation","display_name":"inflation","score":0.5720000267028809},{"id":"https://openalex.org/keywords/cross-national-comparison","display_name":"cross-national comparison","score":0.6690000295639038},{"id":"https://openalex.org/keywords/united-states","display_name":"United States","score":0.6790000200271606},{"id":"https://openalex.org/keywords/united-kingdom","display_name":"United Kingdom","score":0.9340000152587891},{"id":"https://openalex.org/keywords/israel","display_name":"Israel","score":0.925000011920929}],"concepts":[{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5042232275009155},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.49673086404800415}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.3386/w22475","doi":"https://doi.org/10.3386/w22475","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w22475","pdf_url":"https://doi.org/10.3386/w22475","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"}],"best_oa_location":{"id":"doi:10.3386/w22475","doi":"https://doi.org/10.3386/w22475","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w22475","pdf_url":"https://doi.org/10.3386/w22475","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4361812010.pdf","grobid_xml":"https://content.openalex.org/works/W4361812010.grobid-xml"},"referenced_works_count":43,"referenced_works":["https://openalex.org/W134978675","https://openalex.org/W1482503699","https://openalex.org/W1558406872","https://openalex.org/W1575825597","https://openalex.org/W1912412005","https://openalex.org/W1967689986","https://openalex.org/W1988420908","https://openalex.org/W2003750580","https://openalex.org/W2025643955","https://openalex.org/W2029378576","https://openalex.org/W2042883439","https://openalex.org/W2052924355","https://openalex.org/W2064892444","https://openalex.org/W2068298385","https://openalex.org/W2081378621","https://openalex.org/W2087445659","https://openalex.org/W2090128667","https://openalex.org/W2110603299","https://openalex.org/W2119852194","https://openalex.org/W2134086319","https://openalex.org/W2149292156","https://openalex.org/W2171545261","https://openalex.org/W2178649350","https://openalex.org/W2246159507","https://openalex.org/W2247442728","https://openalex.org/W2272401466","https://openalex.org/W2315995881","https://openalex.org/W2332996193","https://openalex.org/W3022138093","https://openalex.org/W3123189768","https://openalex.org/W3123449864","https://openalex.org/W3125510718","https://openalex.org/W3126039426","https://openalex.org/W4230750266","https://openalex.org/W4246668889","https://openalex.org/W4300119620","https://openalex.org/W4300432500","https://openalex.org/W4312632094","https://openalex.org/W6663742222","https://openalex.org/W6679714066","https://openalex.org/W6789048028","https://openalex.org/W7002069101","https://openalex.org/W7065365893"],"related_works":["https://openalex.org/W2908327608","https://openalex.org/W2802941441","https://openalex.org/W1968632826","https://openalex.org/W2916255469","https://openalex.org/W1820695812","https://openalex.org/W1979519351","https://openalex.org/W3123954159","https://openalex.org/W1983132743","https://openalex.org/W7067835272","https://openalex.org/W1518898800"],"abstract_inverted_index":{"We":[0],"explore":[1],"the":[2,29,36,43,47,51,67,71,74,79,92,95,102],"long-run":[3,22],"demand":[4],"for":[5,42,59,101],"M1":[6],"based":[7],"on":[8],"a":[9,21],"dataset":[10],"comprising":[11],"31":[12],"countries":[13,61,66],"since":[14,54],"1851.In":[15],"many":[16],"cases":[17],"cointegration":[18],"tests":[19],"identify":[20],"equilibrium":[23],"relationship":[24],"between":[25],"either":[26,91],"velocity":[27,77],"and":[28,35,46,58,78,87],"short":[30,37,80],"rate,":[31],"or":[32,94],"M1,":[33],"GDP,":[34],"rate.Evidence":[38],"is":[39,98],"especially":[40,99],"strong":[41],"United":[44,48,103],"States":[45],"Kingdom":[49],"over":[50],"entire":[52],"period":[53],"World":[55],"War":[56],"I,":[57],"highinflation":[60],"such":[62],"as":[63],"Israel.For":[64],"low-inflation":[65],"data":[68],"often":[69],"prefer":[70],"specification":[72],"in":[73],"levels":[75],"of":[76],"rate":[81],"originally":[82],"estimated":[83],"by":[84],"Selden":[85],"(1956)":[86],"Latan\u00e9":[88],"(1960)":[89],"to":[90],"log-log,":[93],"semi-log":[96],"ones.This":[97],"clear":[100],"States.":[104]},"counts_by_year":[{"year":2024,"cited_by_count":2},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":2},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":7},{"year":2018,"cited_by_count":5},{"year":2017,"cited_by_count":1},{"year":2016,"cited_by_count":1}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2023-04-05T00:00:00"}
