This paper analyses the influence of exchange rate expectations on the demand for real balances. It is shown that currency substitution is an important factor in explaining real money holdings in Germany from 1970 to 1978. Additionally, evidence is provided concerning the influence of the...

This book pays tribute to the late Irving Fisher by discussing a range of issues on which he worked throughout his life. It serves as an excellent introduction to the contributions of one of the great economists spanning the late nineteenth and mid-twentieth centuries. The book begins with an...