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A Model of the Demand for Money by Firms

Authors :
Merton H. Miller
Daniel Orr
Source :
The Quarterly Journal of Economics. 80:413
Publication Year :
1966
Publisher :
Oxford University Press (OUP), 1966.

Abstract

I. Introduction, 413. — II. A model of cash flows and the costs of cash management for business firms, 416; assumptions underlying the model, 417; optimal values of the policy parameters, 420; some properties of the solution, 423; implications for the demand for money by firms, 425; extension to allow for non-zero drift, 427.— III. The applicability of the model, 429. — Appendix, 433.

Subjects

Subjects :
Microeconomics
Economics and Econometrics
Endogenous money
Transactions demand
Demand deposit
Cash holdings
Economics
Demand for money
Cash flow
Monetary economics
Cash management

Details

ISSN :
00335533
Volume :
80
Database :
OpenAIRE
Journal :
The Quarterly Journal of Economics
Accession number :
edsair.doi...........8b2c1f7bba185f84add29d56dc383ca0
Full Text :
https://doi.org/10.2307/1880728
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