一个意思，指为了在有价证券等资产形式的投机中获利而需要的货币

即流动性滞存，或货币滞存。

那么，这时利率有什么变化趋势？

利率上升，货币的投机性需求会减少。

Suppose money demand = L(R, Y), where R is the interest rate and Y GDP (or output), then ∂L/∂R< 0. The higher the interest rate, the less money we will hold, because we can invest to get the higher interest