Journal of Economic Integration, Vol. 37, No. 1 (March 2022), pp. 93-120 (28 pages) This study investigates the stability issues of real money balances considering financial development. We estimate ...

This is a preview. Log in through your library . Abstract A utility maximizing consumer with a completely known system of ordinary demand functions q = h(p,C) is considered. Let (p^o, q^o) and ...