Studies In Money Velocity
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Studies In Money Velocity
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Author : William Castle Bradford
language : en
Publisher:
Release Date : 1947
Studies In Money Velocity written by William Castle Bradford and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1947 with 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.
Banking And Monetary Studies
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Author : Deane Carson
language : en
Publisher: Homewood, Ill. : R.D. Irwin
Release Date : 1963
Banking And Monetary Studies written by Deane Carson and has been published by Homewood, Ill. : R.D. Irwin this book supported file pdf, txt, epub, kindle and other format this book has been release on 1963 with Banks and banking categories.
The collection of essays, written by 25 professional economists, deals with history, theory, policy and contemporary problems of US monetary and banking institutions.
Studies In The Quantity Theory Of Mone
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Author : Milton Friedman
language : en
Publisher:
Release Date : 1956
Studies In The Quantity Theory Of Mone written by Milton Friedman and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1956 with Inflation (Finance) categories.
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.
Inflation Theory In Economics
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Author : Max Gillman
language : en
Publisher: Routledge
Release Date : 2009-03-23
Inflation Theory In Economics written by Max Gillman and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-03-23 with Business & Economics categories.
These essays bring together a progression in monetary theory. The major theme that runs through all of the chapters is that in order to do monetary economics well in general equilibrium, it helps to have a good money demand underlying the theory. A proper underlying money demand sets up arguably the best foundation from which to make extensions of monetary economics from the basic model. At the same time that money demand is modelled, this also “endogenizes” the velocity of money. This has been a challenge in the literature that these essays solve and then use to extend basic neoclassical growth and business cycle theory. Solving this problem, in a way that is a natural, direct, and “micro-founded” extension of the standard monetary theory is the first major contribution of the collection. The second major contribution is the extension of the neoclassical monetary models, using this solution, to reinvigorate classic issues of monetary economics and take them to the frontier.
Does Transaction Velocity Of Money Work On Gdp An Empirical Study
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Author : Shuibo Sun
language : en
Publisher:
Release Date : 2005
Does Transaction Velocity Of Money Work On Gdp An Empirical Study written by Shuibo Sun and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
The economy system is like that of human bodies. In human bodies, both the stock and the velocity of blood are very important. In the economy system, the stock of money and its velocity have the analogous positions. But in the development of the monetary economics, economists have devoted more efforts into the stock of money, while the velocity is put in a less important place and, moreover, most of studies, theoretically and empirically, treat the velocity of money as income velocity. Under this condition, money is considered as store of value. However actual velocity of money is not the income velocity, but the transaction velocity. In this paper, I present why actual velocity of money is transaction velocity and test if transaction velocity of money works on GDP. The paper has four parts: review of theories on monetary velocities, comments on theories discussed above, model and estimate and conclusion. In the first part, four famous representative economist's theories are presented. They are Fisher, Pigou, Keynes and Friedman. The strong- points and shortcomings of these theories on velocities are analized in the second part. This part also puts forward my views of velocities. The third part is model and estimate. In the single regression model, I adopt the transaction version of quantity theory popularized by Irving Fisher, but jump out of Fisher's theory framework to make a test that if transaction velocity of money works on GDP. The last part is a conclusion of the paper. I conclude that, in U.S.A., transaction velocity of money has a positive effect on nominal GDP and that further study on this field should be recovered and pushed forward.
The Behavior Of Money
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Author : James Waterhouse Angell
language : en
Publisher:
Release Date : 1936
The Behavior Of Money written by James Waterhouse Angell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1936 with Banks and banking categories.
The Velocity Of Circulation Of Money In The Context Of Development
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Author : Mohammad Tawfik Ramtoolah
language : en
Publisher:
Release Date : 1979
The Velocity Of Circulation Of Money In The Context Of Development written by Mohammad Tawfik Ramtoolah and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Circular velocity of money categories.
Instability Of The Velocity Of Money
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Author : Michael J. Artis
language : en
Publisher:
Release Date : 1992
Instability Of The Velocity Of Money written by Michael J. Artis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Demand for money categories.