The Demand for Money: Theories, Evidence, and ProblemsHarper & Row, 1985 - 178 síður |
From inside the book
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Síða 119
... transactions and precautionary demand is concerned . It is inherently difficult to get results which find a role for both variables at the same time because wealth and income move closely to- gether and it is hard to distinguish between ...
... transactions and precautionary demand is concerned . It is inherently difficult to get results which find a role for both variables at the same time because wealth and income move closely to- gether and it is hard to distinguish between ...
Síða 143
... transactions proxy that would be closely related to short - term expected income - were important arguments in the ... precautionary motives for money holding . Studies of the role of the wage rate , interpreted as a proxy variable for the ...
... transactions proxy that would be closely related to short - term expected income - were important arguments in the ... precautionary motives for money holding . Studies of the role of the wage rate , interpreted as a proxy variable for the ...
Síða 155
... transactions and precautionary motives adds to our understanding of the demand for money is the poor performance of current income relative to permanent income or wealth as a scale variable . As we have seen , advocates of the transactions ...
... transactions and precautionary motives adds to our understanding of the demand for money is the poor performance of current income relative to permanent income or wealth as a scale variable . As we have seen , advocates of the transactions ...
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