A new hypothesis on the demand for money: the “accounting” motive and banks' costs[1]: November 9, 1992

Presents a paper written by Lauchlin Currie in November 1992 in which he identifies and defends the concepts of money and the demand for it. The paper argues that the heavy cost of maintaining checking accounts is not reasonably explained by the conventional listing of motivations, especially in the case of large deposits. A new hypothesis is given on the demand for money. The paper concludes that checking accounts possesses the further essential quality of being quantitatively subject to control, which in turn permits a limitation of the total quantity of demand deposits and hence of money.

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Year of publication:	2004
Authors:	Currie, Lauchlin
Published in:	Journal of Economic Studies. - Emerald Group Publishing. - Vol. 31.2004, September, 3/4, p. 390-403
Publisher:	Emerald Group Publishing
Subject:	Demand \| Economics \| Money

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics