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Article
Publication date: 1 January 1991
Colleen W. Camerson and Regina Caveny
The relationship between a new measure of money, called the Rational Transactional Aggregate (RTA), and economic activity was investigated using annual and quarterly data in…
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Abstract
The relationship between a new measure of money, called the Rational Transactional Aggregate (RTA), and economic activity was investigated using annual and quarterly data in selected macroeconomic models from 1973–1990. For prediction purposes, the money demand function including RTA which used lagged output changes and lagged interest rates showed the most promise.