The Demand for Money: Theories, Evidence, and ProblemsHarper & Row, 1985 - 178 síður |
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Síða 44
... equal the value of receipts . Now the value of sales must be equal to the number of transactions conducted over any time period multiplied by the aver- age price at which they take place . However , the value of purchases must be equal ...
... equal the value of receipts . Now the value of sales must be equal to the number of transactions conducted over any time period multiplied by the aver- age price at which they take place . However , the value of purchases must be equal ...
Síða 58
... equal , the higher the level of prices , the proportionately higher the demand for money . ) So long as money is a " normal " as opposed to an inferior good , we also have SMd SW > 0 ( 5.14 ) ( Other things being equal , the higher the ...
... equal , the higher the level of prices , the proportionately higher the demand for money . ) So long as money is a " normal " as opposed to an inferior good , we also have SMd SW > 0 ( 5.14 ) ( Other things being equal , the higher the ...
Síða 60
... equal lots of size K , the outlay in brokerage fees is equal to b ( T / K ) . At the same time , if money is held instead of bonds , interest is forgone , and this too must obviously be treated as a cost . Since expenditure is a ...
... equal lots of size K , the outlay in brokerage fees is equal to b ( T / K ) . At the same time , if money is held instead of bonds , interest is forgone , and this too must obviously be treated as a cost . Since expenditure is a ...
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