Real Money Balances in the Production Function of a Developing Country
在巴基斯坦大型制造业的多方程框架中检验了实际货币余额作为生产要素的作用，发现其与劳动和资本一样重要，支持了Sinai和Stokes的开创性结论。
Real money balances as a factor input in the production function of the large-scale manufacturing sector in Pakistan has been examined in a multi-equation framework. Besides labor and capital, real money balances turned out to be an important factor of production. Our results are in accordance with the pioneering work of Sinai and Stokes in this area.