Bordo, Michael David; Jonung, Lars; Siklos, Pierre - National Bureau of Economic Research (NBER) - 1993
Previous evidence, most recently by Bordo and Jonung (1990) and Silclos (1988b, 1991), has shown on a country-by-country basis that proxies for institutional change significantly improve our understanding of the long-run behaviour of velocity and. consequently, of the demand for money. If...