The Demand for Money: Theories, Evidence, and ProblemsHarper & Row, 1985 - 178 síður |
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Síða 53
... precautionary balances , and the second term represents speculative balances . ' If we confine the analysis to short periods of time over which the level of wealth does not vary , this variable can simply be ignored and we are left with ...
... precautionary balances , and the second term represents speculative balances . ' If we confine the analysis to short periods of time over which the level of wealth does not vary , this variable can simply be ignored and we are left with ...
Síða 66
... precautionary balances is con- stant at r cents per dollar . The individual agent seeking to minimize the costs of dealing with an uncertain pattern of payments and receipts will add cash to his precautionary balances until the saving ...
... precautionary balances is con- stant at r cents per dollar . The individual agent seeking to minimize the costs of dealing with an uncertain pattern of payments and receipts will add cash to his precautionary balances until the saving ...
Síða 67
... precautionary balances at which the marginal benefits obtained in terms of saved brokerage fees just equal the marginal costs incurred . Hence it tells us what quantity of precautionary balances will be held . In short , the curve ...
... precautionary balances at which the marginal benefits obtained in terms of saved brokerage fees just equal the marginal costs incurred . Hence it tells us what quantity of precautionary balances will be held . In short , the curve ...
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