Money Demand: Cash Management and Deregulation
研究了现金管理技术进步如何影响货币需求，并分析了放松管制在这一过程中的作用，通过实证发现现金余额调整速度发生了显著变化。
Over the past decade cash management has become increasingly sophisticated, significantly affecting the use of financial instruments for conducting transactions. Economist John Carlson describes how the new methods affect the demand for money and the implications of deregulation for this process. After reviewing empirical studies of money demand, he presents evidence of another kind of change in the relationship between money and income. In the context of the conventional model, Carlson finds a sizable shift in the speed of adjustment of cash balances to desired levels. Although the shift is consistent with the cash-management process, other interpretations are identified and discussed.