Inflation and the demand for money in Israel |
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| Authors: | Martin J. Bailey George S. Tavlas |
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| Affiliation: | University of Maryland, Baltimore, MD 21201, USA;U.S. Department of State, Washington, DC 20520, USA;U.S. Department of State, Washington, DC 20520, USA |
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| Abstract: | This paper examines the impacts of rational-price expectations and foreign-exchange reform, in addition to adaptive-price expectations, on money-demand in Israel. The regression results are used to determine the upper limit on the amount of seigniorage. |
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