## Discussion papers: Economic theory and econometrics |

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a+A f analysis better policy ceteris paribus Champernowne method choice of monetary coefficient of variation components of expenditure consumption function correlation demand for money effects of monetary equation 42 equation for income expected value expenditure function follows Friedman given by equation instability or uncertainty interest rate coefficient interest rate policy IS-LM model level of income LM schedule Milton Milton Friedman monetary instrument monetary policy instrument money demand function money function money multiplier money stock money supply policy money-income multiplier objective function Optimal Choice optimal monetary policy paper parameter instability policy variable Poole model Poole results Poole-type instability Poole's conclusions probability density function probability distributions random coefficients random error term random parameters random variables rate of interest ratios of random real and monetary real sector reduced form equation reduced form parameters results on optimum seeking to minimise stabilisation policy stochastic parameters stock of money structural equations target level Turnovsky