01798cas a2200313 a 4500 AALejournalIMF008713 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451920963 1018-5941 BD-DhAAL BD-DhAAL Boughton, James. The Demand for M1 in the United States : A Commenton Baba, Hendry, and Starr / James Boughton. Washington, D.C. : International Monetary Fund, 1993. 1 online resource (10 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students A recent paper by Baba, Hendry, and Starr presents an error-correction model of the demand for M1 in the United States, which shows a dramatic improvement in both fit and stability over earlier models. This note estimates an alternative model with the same data set and draws two conclusions: that the improvements are due more to the use of complex dynamics than to the introduction of variables representing financial innovation, and that some of the economic properties are not robust with respect to minor changes in specification. Mode of access: Internet BHS Equation imf BHS Interest-Rate Effect imf BHS Model imf Standard Error imf WP imf United States imf IMF Working Papers; Working Paper ; No. 1993/024 Full text available on IMF http://elibrary.imf.org/view/journals/001/1993/024/001.1993.issue-024-en.xml IMF e-Library