Bond Yield Uncertainty and the Demand for Money: A Comment

UNCG Author/Contributor (non-UNCG co-authors, if there are any, appear on document)
Stuart D. Allen, Professor (Creator)
The University of North Carolina at Greensboro (UNCG )
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Abstract: The purpose of this paper is to reconsider the work recently reported by Amihud that the demand for money is an increasing function of the risk of holding bonds. Our evidence from testing annual and quarterly Cambridge k and demand-for-money equations cannot confirm the positive and significant bond-yield uncertainty coefficient reported by Amihud in a semi-annual Cambridge k equation.

Additional Information

Economics Letters, 10(3/4), 321-326.
Language: English
Date: 1982
Money, Demand for money, Bonds, Economics

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