Publisher's Synopsis
Excerpt from Money in the Utility Function: An Empirical Implementation
This paper was prepared for the 1985 Austin Symposium in Economics. We thank Sunny Kim for research assistance and Olivier Blanchard, Stan Fischer, Lars Hansen, and the participants at an nber Financial Markets Conference for comments on an earlier draft. We are especially grateful to Lawrence Summers for numerous helpful (and not uncritical) discussions. This research was supported by the National Science Foundation, and is part of the nber Programs in Economic Fluctuations and Financial Markets. Any views are those of the authors and do not reflect upon the nber or nsf.
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