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The Demand for Money in a Fixed Price Level
Alternative Assumptions About the Interest RateDemand for Money
A Brief Overview
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adjustment agent aggregate amount analysis approach argued argument assets assumption average balances banks behavior bonds chapter concerned constant cost curve deal demand for money demand function demand-for-money function depends deposits determined discussed economy effect elasticity empirical equal Equation equilibrium estimates evidence example expected expenditure fact factors fall Figure fitted follows given held hence higher hypothesis implies important included increase individual inflation influence interest rate involved issues lagged Laidler least less level of income matter means measured monetary money holding money supply nature nominal noted particular period permanent income possible predictions price level problem proportion quantity of money question rate of interest rate of return reader real income reason recent relationship relevant role scale shift short shows similar simple studies suggests tests theory tion transactions treated turn United variable variations vary wealth yield