The Behavior of Money Stock under Interest Rate Control: Some Evidence for Canada
检验了利率控制下M1存量的决定机制，发现加拿大1970-84年的证据支持M1供给由银行体系决定的观点，而非传统认为的需求决定论。
A widely held view of interest rate control is that under this policy the demand for M1 determines the behavior of the stock of M1. An alternative view is that under interest rate control the supply function of M1 is the residual quantity determined by the banking system given the levels of bank credit and nontransaction deposits chosen by the nonbank public. The authors find evidence in favor of the alternative view for the Canadian case, 1970-84. Copyright 1987 by Ohio State University Press.