A Model of the Demand for Money by Firms

S-Tier
Journal: Quarterly Journal of Economics
Year: 1966
Volume: 80
Issue: 3
Pages: 413-435

Authors (2)

Merton H. Miller Daniel Orr (not in RePEc)

Score contribution per author:

4.022 = (α=2.01 / 2 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

I. Introduction, 413. — II. A model of cash flows and the costs of cash management for business firms, 416; assumptions underlying the model, 417; optimal values of the policy parameters, 420; some properties of the solution, 423; implications for the demand for money by firms, 425; extension to allow for non-zero drift, 427.— III. The applicability of the model, 429. — Appendix, 433.

Technical Details

RePEc Handle
repec:oup:qjecon:v:80:y:1966:i:3:p:413-435.
Journal Field
General
Author Count
2
Added to Database
2026-01-26