Money, Credit and Banking; Monetary Policy; Consumer Finance; Mortgage Credit.

This article presents abstracts of research articles on finance. The paper "The Demand for Money in Denmark: 1921-62" is a study of the demand for money in Denmark using the aggregate stock of money, net national income and the rate of interest as the main variables. The method applied is single-equation regression analysis, and the relations are estimated for different periods and with various combinations of the variables. The article "Stochastic Reserve Losses" is concerned with the Orr-Mellon thesis which introduced the notion of uncertainty into the well-known comparative static analysis of bank credit expansion. The paper "The Impact of Monetary Stringency on Business Investment" utilizes the unique potential provided by the OBE-SEC surveys of the capital outlays of non-farm business to develop quantitative estimates of the reductions in both plant and equipment and inventory investment which resulted from the unusually severe credit stringency in 1966. An attempt is made to distinguish the direct effects, operating through the high cost of funds from accelerator or expectational effects, operating through reductions in actual or expected sales attributed to the impact of credit conditions on the firm's customers.