Testing Linear Hypothesis on National Account Data
构建了一个包含名义和实际调整过程的广义存量调整模型，检验了货币需求对价格水平和收入的同质性，为研究者提供了统计检验方法。
Stock adjustment models of money demand have employed either the nominal or real adjustment process, but they have not been tested statistically due to their nonnested- ness. This paper formulates a general stock adjustment model which includes both nominal and real adjustment processes as its nested subsets. Each process is then tested against the general specification. The paper also examines the homogeneity of money demand with respect to price level and income in the general model.