; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "On the Stability of Money Demand"; ; "batchuser@example.com"; "Nicolini, Juan Pablo", "Lucas, Jr., Robert E."; "Federal Reserve Bank of Minneapolis"; "Money demand", "Monetary base"; "E41 - Demand for Money", "E40 - Money and Interest Rates: General"; "We show that regulatory changes that occurred in the banking sector in the early eighties, which considerably weakened Regulation Q, can explain the apparent instability of money demand during the same period. We evaluate the effects of the regulatory changes using a model that goes beyond aggregates as M1 and treats currency and different deposit types as alternative means of payments. We use the model to construct a new monetary aggregate that performs remarkably well for the entire period 1915-2012. "^^; "2015-09-01"; "2019-05-20T18:31:27.442682099+00:00"^^; "https://doi.org/10.21034/wp.718"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "Wed Oct 23 17:45:02 2019"; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "470", "562"; "Working paper (Federal Reserve Bank of Minneapolis. Research Department)"; "718"; "Money demand", "Monetary base"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; "[Related data set](https://researchdatabase.minneapolisfed.org/concern/datasets/xp68kg22w)."^^, "Published in: _Journal of Monetary Economics_ (Vol. 73, July 2015, pp. 48-65), https://doi.org/10.1016/j.jmoneco.2015.03.005."^^; ; "Publication" . ; .