In simple-sum aggregate money demand studies, long-run elasticities and the propensities of individuals to save are presumed to be equal and can be depicted by those of the representative economic agent. This study uses panel data to test this hypothesis within the theoretical framework of the inventory-theoretic transactions approach and finds it fails to hold. At the microeconomic level, money demand functions are not homogeneous, and the impacts of monetary policies on economic activities of households are not as stable as those suggested in aggregate money demand studies.

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Measured versus Reported Distances in the American Housing Survey

November 2011

This study focuses on identifying the differences between self-reported distances in the AHS and objective measures using GIS.

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Comparison of ACS and CPS Data on Employment Status

December 2011

This report compares national and state employment status estimates based on data from the ACS with those based on data from the CPS.

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A Longitudinal Analysis of the Stability of Household Money Demand

July 2011

This study utilizes longitudinal data to take another look and find that volatility in the demand for non-interest-earning checking accounts.

Page Last Revised - December 16, 2021

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