Inflationary Expectations and Demand for Per Capita Real Balances: Evidence from the Indian Economy

In another paper by the present author, along with some simpler models, a wealth adjustment model of demand for money function with permanent income and anticipated rate of inflation as its arguments was tested with Indian data. The study was based upon annual data covering the period between 1951-75 (Trivedi M.S., 1980a, 1980b).