The Demand for Money: Theories, Evidence, and ProblemsHarper & Row, 1985 - 178 síður |
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Síða 23
... money , and so this just - mentioned property of our analysis did not need to be stressed earlier . It does now , because the supply of money the monetary authorities can control in any actual economy is the nominal supply . Given the ...
... money , and so this just - mentioned property of our analysis did not need to be stressed earlier . It does now , because the supply of money the monetary authorities can control in any actual economy is the nominal supply . Given the ...
Síða 111
... nominal quantity of money as an exogenous variable determined on the supply side of the market . If we take that analysis seriously as a framework for discussing the interaction of the quantity of money and other variables in the ...
... nominal quantity of money as an exogenous variable determined on the supply side of the market . If we take that analysis seriously as a framework for discussing the interaction of the quantity of money and other variables in the ...
Síða 112
... money function . To see this , consider the following simple example . Suppose that , where p * is the long- run ... nominal money supply does vary exogenously in the data being studied , for that reason alone ( 8.5 ) is misspecified ...
... money function . To see this , consider the following simple example . Suppose that , where p * is the long- run ... nominal money supply does vary exogenously in the data being studied , for that reason alone ( 8.5 ) is misspecified ...
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