01596cas a2200241 a 4500 AALejournalIMF009998 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451954180 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Wealth. Financial Liberalization, and the Demand for Money in Japan. Washington, D.C. : International Monetary Fund, 1989. 1 online resource (22 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 This paper presents estimates of a demand function for broad money in Japan. The function explains both secular trends in broad money during the 1970s and 1980s and the sharp decline in the income velocity of broad money during 1986-88. The inclusion of wealth and a measure of the return on holding broad money is essential to the specification of the money-demand function. Developments in these variables, as opposed to a behavioral shift brought about by the rapid pace of financial liberalization, explain the decline in money velocity during 1986-88. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1989/085 Full text available on IMF http://elibrary.imf.org/view/journals/001/1989/085/001.1989.issue-085-en.xml IMF e-Library