Baldev Raj, "The Institutional Hypothesis of the Long-Run Income Velocity
of Money and Parameter Stability of the Equilibrium Relationship", 
Journal of Applied Econometrics, Vol. 10, No. 3, 1995, pp. 233-253.

Authors Name and Address:
-------------------------
Baldev Raj                                                       
Department of Economics
Wilfrid Laurier University
75 University Avenue
Waterloo, Ontario
Canada N2l 3C5
email: braj@mach1.wlu.ca


The Data:
---------
The data on the five variables defined below is provided in the associated
data files.  

  v    = logarithm of the income velocity of M2 Money
  pinc = logarithm of the real per capita permanent income
  int  = interest rate; defined as short term interest rate for UK and
         the long term bond yeild rate for Canada, Norway and Sweden.
  cm   = the ratio of currency over money
  fa   = the ratio of the total non-bank financial assets to the total
         financial assets.


Source:
-------
Bordo, M.E. and Lars Jonung. The Long-Run Behaviour of the Velocity of
     Circulation: The International Evidence   Cambridge: Cambridge
     University Press, 1987, appendix 1A.

___________________________. "The Long-Run Behaviour of Velocity: The
     Institutional Approach Revisited." Journal of Policy Modelling
     12 (Summer 1990): 165-97, apendix 1.


The annual data corresponds to four countries:
----------------------------------------------
   
 Canada          can.dat  1900 - 1986
 Norway          nor.dat  1880 - 1986 (excluding 1939 - 1945 inclusive)
                                      (observations are numbered 1 to 100)
 Sweden          swe.dat  1880 - 1986
 United Kingdom  uk.dat   1876 - 1985


--
These files were created on September 21st, 1994 for the JAE's ftp
archive site at Queens University.