The Demand for Money: Theories, Evidence, and ProblemsHarper & Row, 1985 - 178 síður |
From inside the book
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Síða 111
... adjustment " short- run function ( 8.5 " ) . However , throughout the analysis of the economy as a whole set out in Part I of this book , we treated the nominal quantity of money as an exogenous variable determined on the supply side of ...
... adjustment " short- run function ( 8.5 " ) . However , throughout the analysis of the economy as a whole set out in Part I of this book , we treated the nominal quantity of money as an exogenous variable determined on the supply side of ...
Síða 113
... adjustment of cash holdings to their target value is to construct an explicit model of that adjustment process and to estimate it as a complete system . Another group , associated mainly with Dr. David Hendry , argues that specifying ...
... adjustment of cash holdings to their target value is to construct an explicit model of that adjustment process and to estimate it as a complete system . Another group , associated mainly with Dr. David Hendry , argues that specifying ...
Síða 150
... adjustment processes of some unspecified kind , the implication of this evidence is that the interaction of prices and the money supply is complicated , volatile , and ill understood . " In light of the above arguments , in the 1970s ...
... adjustment processes of some unspecified kind , the implication of this evidence is that the interaction of prices and the money supply is complicated , volatile , and ill understood . " In light of the above arguments , in the 1970s ...
Efni
The Demand for Money in a Fixed Price Level | 8 |
Price Flexibility in the Macromodel | 22 |
A Brief Overview | 39 |
Höfundarréttur | |
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Common terms and phrases
adjustment aggregate demand analysis approach argued assets assumption behavior brokerage fee cash chapter consumption consumption function cost of holding definition of money demand curve demand deposits demand for money demand function demand-for demand-for-money function discussed economists effect empirical equal Equation evidence exogenous expected inflation factors Figure Friedman given holding money hypothesis implications important increase individual agent inflation rate interest rate involved lagged Laidler level of income level of real liquidity trap LM curve long-run M₁ macroeconomic matter measured money demanded money function money holding money supply nominal money nonhuman wealth opportunity cost output P₁ period permanent income precautionary balances precautionary demand price level problem proportion quantity of money rate of interest rate of return real income relationship relevant scale variable shift short-run speculative demand studies supply and demand theory tion transactions and precautionary transactions demand volume of transactions wealth effect Y₁ yield