Since 1980 the behavior of economic agents on the demand for money has been observed to change. As a result traditional money indicator, M₂ is not sufficient to describe the recent change in surpluses in balnace of trade and the deregulation on fina...
Since 1980 the behavior of economic agents on the demand for money has been observed to change. As a result traditional money indicator, M₂ is not sufficient to describe the recent change in surpluses in balnace of trade and the deregulation on financial markets in Korea. Therefore microfundation of money demand is required to develop.