We use Japanese aggregate and disaggregate money demand data to show that conflicting inferences can arise. The aggregate data appears to support the contention that there was no stable money demand function. The disaggregate data shows that there was a stable money demand function. Neither was...

We explore the usefulness of combining opinion surveys with time-series data to forecast Japanese economy. We demonstrate that the businessmen's judgemental variables might summarize contemporaneous information beyond that of actual series. The combined models do yield substantially more...