Abstract
Although a considerable amount of work has been conducted on the validity of the Hall hypothesis, as applied to consumer expenditure, there has been negligible empirical work on the Hall hypothesis as applied to the demand for money. In this paper the Hallian hypothesis is applied to consumer expenditure and the demand for money using quarterly data for six countries.
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We are grateful to an anonymous referee for helpful comments on an earlier draft. Normal caveats apply.
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MacDonald, R., Peel, D.A. Consumer expenditure, the demand for money, and the Hall hypothesis. Empirical Economics 12, 3–17 (1987). https://doi.org/10.1007/BF01973000
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DOI: https://doi.org/10.1007/BF01973000