Income Velocity Of Money
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The Velocity Of Money
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Author : George Garvy
language : en
Publisher:
Release Date : 1969
The Velocity Of Money written by George Garvy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1969 with Business & Economics categories.
Demand For Money
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Author : Lars Jonung
language : en
Publisher: Routledge
Release Date : 2018-02-06
Demand For Money written by Lars Jonung and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-06 with Business & Economics categories.
The income velocity of money-an inverse measure of the demand for money balances-is the ratio of the money value of income to the average money stock that the public (excluding banks) holds in a given period. Why the magnitude of that ratio has changed over time is the subject of Michael D. Bordo and Lars Jonung's classic study, originally published as The Long-Run Behavior of the Velocity of Circulation. Supported by statistical data, econometric estimation techniques, and meticulous historical analysis, this work describes, in an international setting, how slow-moving economic, social, and political forces interact with the decisions households and firms make about how much money to hold. Annual time series of velocity for several countries from the late nineteenth century to the late twentieth century display a U-shaped pattern. Existing theories can explain each section of the velocity curve-the falling, flat, and rising parts-but the overall pattern is not consistent with any one theory. Here the authors put forth a comprehensive explanation for this behavior over time. Their theory is largely an extension of the approach of Knut Wicksell, the Swedish economist who stressed the role of substitution between monetary assets. This approach, which emphasizes institutional variables, is incorporated into the arguments for the traditional long-run money demand (velocity) function. Four types of empirical evidence strongly support the authors' theory: econometric studies of the long-run velocity function for several countries; a cross section study of approximately eighty countries in the postwar period; a case study of the Swedish monetization process in the fifty years before World War I; and an examination of the time series properties of velocity. Demand for Money suggests that institutional factors, as opposed to real income, play a greater role in velocity than previously thought. And these institutional factors have a major impact on monetary policy. This is a book that will prove of great value to economists, monetary strategists, and policymakers.
Demand For Money
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Author :
language : en
Publisher: Transaction Publishers
Release Date :
Demand For Money written by and has been published by Transaction Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on with Business & Economics categories.
The income velocity of money-an inverse measure of the demand for money balances-is the ratio of the money value of income to the average money stock that the public (excluding banks) holds in a given period. Why the magnitude of that ratio has changed over time is the subject of Michael D. Bordo and Lars Jonung's classic study, originally published as "The Long-Run Behavior of the Velocity of Circulation." Supported by statistical data, econometric estimation techniques, and meticulous historical analysis, this work describes, in an international setting, how slow-moving economic, social, and political forces interact with the decisions households and firms make about how much money to hold. Annual time series of velocity for several countries from the late nineteenth century to the late twentieth century display a U-shaped pattern. Existing theories can explain each section of the velocity curve-the falling, flat, and rising parts-but the overall pattern is not consistent with any one theory. Here the authors put forth a comprehensive explanation for this behavior over time. Their theory is largely an extension of the approach of Knut Wicksell, the Swedish economist who stressed the role of substitution between monetary assets. This approach, which emphasizes institutional variables, is incorporated into the arguments for the traditional long-run money demand (velocity) function. Four types of empirical evidence strongly support the authors' theory: econometric studies of the long-run velocity function for several countries; a cross section study of approximately eighty countries in the postwar period; a case study of the Swedish monetization process in the fifty years before World War I; and an examination of the time series properties of velocity. "Demand for Money" suggests that institutional factors, as opposed to real income, play a greater role in velocity than previously thought. And these institutional factors have a major impact on monetary policy. This is a book that will prove of great value to economists, monetary strategists, and policymakers. br> Michael D. Bordo is professor of economics and director of the Center for Monetary and Financial History at Rutgers University. He is editor of a series of books, "Studies in Macroeconomic History," and the author of "Essays on the Gold Standard and Related Regimes," and (with Anna J. Schwartz) "A Retrospective on the Classical Gold Standard 1821-1931." Lars Jonung is research adviser at ECFIN, European Commission, Brussels. He was previously professor of economics at the Stockholm School of Economics, and served as chief economic advisor to Prime Minister Carl Bildt from 1992 to 1994. Jonung is the author of "The Political Economy of Price Controls: The Swedish Experience 1970-1985," and editor of "The Stockholm School of Economics Revisited."
Income Velocity Of Money
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Author : C. D. Hansen
language : en
Publisher:
Release Date : 1986
Income Velocity Of Money written by C. D. Hansen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with categories.
Some Aspects Of The Income Velocity Of Money
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Author : William Long Miller
language : en
Publisher:
Release Date : 1950
Some Aspects Of The Income Velocity Of Money written by William Long Miller and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1950 with Circular velocity of money categories.
Income Velocity Of Money And Change In National Income
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Author : Chittapria Mukherjee
language : en
Publisher:
Release Date : 1978
Income Velocity Of Money And Change In National Income written by Chittapria Mukherjee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1978 with Circular velocity of money categories.
Income Velocity Of Money In Agricultural Developing Economies
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Author : Michael J. Driscoll
language : en
Publisher:
Release Date : 1982
Income Velocity Of Money In Agricultural Developing Economies written by Michael J. Driscoll and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1982 with Demand for money categories.
The Income Velocity Of Money And The Harberger Hypothesis Of Inflation
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Author : Christ Thomas Nicholas
language : en
Publisher:
Release Date : 1965
The Income Velocity Of Money And The Harberger Hypothesis Of Inflation written by Christ Thomas Nicholas and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1965 with Income categories.
The Behaviour Of Income Velocity Of Money In Malaysia And Its Implications On Monetary Policy
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Author : Nasaruddin Arshad
language : en
Publisher:
Release Date : 1993
The Behaviour Of Income Velocity Of Money In Malaysia And Its Implications On Monetary Policy written by Nasaruddin Arshad and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Income velocity of money categories.
The Income Velocity Of Money In A Developing Country
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Author : Abdur R. Chowdhury
language : en
Publisher:
Release Date : 1988
The Income Velocity Of Money In A Developing Country written by Abdur R. Chowdhury and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Developing countries categories.