Corrigendum to "Habit persistence in consumption and the demand for money" [Economic Letters 96 (2007) 168-176]

I correct Propositions 1, 2, 3 and 4 in Lioui and Rangvid [Economics letters 96(2007)]. Their conclusion that money demand is not well-defined for plausible parameter values under the ratio specification of habit is wrong.

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Year of publication:	2008
Authors:	Hiraguchi, Ryoji
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 101.2008, 1, p. 95-95
Publisher:	Elsevier
Subject:	Habit formation Money

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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