The Income Elasticity of Money Demand: A Meta-Analysis of Empirical Results*
用元分析方法探究货币需求收入弹性实证结果差异的来源，发现货币总量宽窄、是否包含财富、金融创新等因素显著影响估计值，且美国与其他国家存在差异，部分可由宏观经济环境和支付卡普及解释。
In this paper, we use meta-analytic methods to investigate possible sources for the large variation in empirical findings about the income elasticity of money demand. Our results suggest that the broadness of the monetary aggregate, the inclusion of wealth and the consideration of financial innovation exert a significant influence on estimated income elasticities. Furthermore, we find substantial cross-country differences, in particular between the US and other countries. These differences can, to some extent, be explained by the macrofeconomic environment and the dissemination of payment cards. Copyright Blackwell Publishers Ltd, 2005.