The Demand for Money: Theories, Evidence, and ProblemsHarper & Row, 1985 - 178 síður |
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Síða 60
... cash , and given that there is a fixed cost involved in exchang- ing bonds for cash . Clearly the agent will try to arrange things so that he minimizes his costs over the period . This problem can be solved in the following way . Let T ...
... cash , and given that there is a fixed cost involved in exchang- ing bonds for cash . Clearly the agent will try to arrange things so that he minimizes his costs over the period . This problem can be solved in the following way . Let T ...
Síða 62
... cash for a deposit there , one is incurring a brokerage fee in doing so just as much as if he were paying someone to sell government bonds for him in an organized securities market . This simple example underlies fre- quent references ...
... cash for a deposit there , one is incurring a brokerage fee in doing so just as much as if he were paying someone to sell government bonds for him in an organized securities market . This simple example underlies fre- quent references ...
Síða 63
Theories, Evidence, and Problems David E. W. Laidler. keep all his assets in cash if he is initially paid in cash . Usually , however , even when modified in this way , the model continues to predict that the demand for money will ...
Theories, Evidence, and Problems David E. W. Laidler. keep all his assets in cash if he is initially paid in cash . Usually , however , even when modified in this way , the model continues to predict that the demand for money will ...
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