6Baumol, W. (1952), The Transactions Demand for Cash: An Inventory Theoretic Approach, Quarterly Journal of Economics 66(November): 545-546.
7Bordo, M. D., and L. Jonung (1990), The Long Run Behavior of Velocity: The. Institutional Approach. Revisited Journal of Policy Modeling 12:2, 165 - 197.
8Bordo, M.D., and Jonung, L. (1987), The Longrun behaviour of the Velocity of Circulation: The International Evidence. New York: Cambridge University Press.
9Laidler, D. (1985) ,The Demand for Money: Theo ries and Evidence. 3rd ed. New York: Harper and Row.
10Tobin J., 1958, Liquidity preference as behavior towards risk, Review of Economic Studies 25, 68-85.
9Ahmad, Z.B., Siti, H., and Marial, A., 2009. Stock Prices and Demand for Money in China:New Evidence [J ]. International Fi- nancial Markets, Institution and Money, 24 ( 11 ) : 171-187.
10Bagliano, F., and Favero, C., 1998. Measuring Monetary Policy with VAR Models:An Evaluation[J ]. European Economic Re- view, 42 (43) : 1069-1121.
