Nonlinear Equilibrium Correction in U.S. Real Money Balances, 1869-1997
提出一个美国货币需求的非线性均衡修正模型，该模型在1869至1997年样本期内保持稳定，适用于研究货币需求的长期调整过程。
Several theoretical models of money demand imply nonlinear functional forms for the aggregate demand for money, characterized by smooth adjustment toward long-run equilibrium. In this paper, we propose a nonlinear equilibrium correction model of U.S. money demand that is shown to be stable over the sample period from 1869 to 1997.