A1

This article investigates the existence of a long-run money demand relation for a panel data
consisting of 13 countries which are a part of Organisation for Economic Co-operation and
Development. The main aim of the article is to analyse the long run money demand relation
for the selected OECD countries by using the most recent data comprising the period with
the last global financial crisis. This article studies if there is any cross-sectional dependency
in terms of money demand between the countries selected. The research found out that
there is indeed cross-sectional dependency between the countries

A2

This article investigates the income elasticity of money demand in advanced and developing
countries. This study found out that in advanced countries income elasticities of money
demand are significantly higher in addition, financial reforms and wealth seem to have
significantly reduced the estimates of the income elasticity. However, this study found out
different results for the developing countries. This research utilized the meta-regression
analysis to investigate the sources of variations in the income elasticities of money demand.

A3

An analysis of the relationship between money supply and price level in the context of India
reveals that, over a long period, there exists a positive correlation between growth in
money supply and price level. The association between the two has however not been
proportional. The growth in money supply has most of the time exceeded the growth in
price level. The gap between the two has been explained by the growth in real
national income. If the combined growth in price level and real national income over a long
period is considered, then it comes very close to the growth in money supply, implying a
near proportional relationship between the two. This means the impact of change in money
supply gets distributed between the change in price level and change in real national
income, depending upon the state of the economy.
A4

This article studies if inflation plays any role in the quantity theory of money. The
methodology they use is what makes this article unique as unlike any other, the researchers
didn’t go with longitudinal data, rather they took all the data available for each country and
used it for their research. They used time series and other descriptive statistical methods for
their analysis. This research found out that quantity theory of money (QTM) has been
frequently confirmed for strong inflation regimes, but much less so for medium or low
inflation.

A5