George Kaufman and Cynthia Latta in “The Demand for Money: Preliminary Evidence from Industrial Countries, ” have presented econometric evidence that the money-demand function may shift with the development of financial markets. The thesis depends on the heightened cross-elasticities and lowered wealth-elasticities (or income-elasticities) that are supposed to attend the development of new near-money forms. Their evidence is based on a summary of statistics from money-demand equations for developed and less-developed countries.

Journal Article Deposit Demand and the Pricing of Demand Deposits: Reply Get access Bruce C. Cohen Bruce C. Cohen Northeastern University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 86, Issue 1, February 1972, Pages 140–142, https://doi.org/10.2307/1880500 Published: 01 February 1972

The constraint on bank supply of demand deposits, 524. — Aggregative properties, 529. — Conclusions, 529.