The Demand for Money: Theories, Evidence, and ProblemsHarper & Row, 1985 - 178 síður |
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Síða 60
... cash , and given that there is a fixed cost involved in exchang- ing bonds for cash . Clearly the agent will try to arrange things so that he minimizes his costs over the period . This problem can be solved in the following way . Let T ...
... cash , and given that there is a fixed cost involved in exchang- ing bonds for cash . Clearly the agent will try to arrange things so that he minimizes his costs over the period . This problem can be solved in the following way . Let T ...
Síða 62
... cash for a deposit there , one is incurring a brokerage fee in doing so just as much as if he were paying someone to sell government bonds for him in an organized securities market . This simple example underlies fre- quent references ...
... cash for a deposit there , one is incurring a brokerage fee in doing so just as much as if he were paying someone to sell government bonds for him in an organized securities market . This simple example underlies fre- quent references ...
Síða 63
Theories, Evidence, and Problems David E. W. Laidler. keep all his assets in cash if he is initially paid in cash . Usually , however , even when modified in this way , the model continues to predict that the demand for money will ...
Theories, Evidence, and Problems David E. W. Laidler. keep all his assets in cash if he is initially paid in cash . Usually , however , even when modified in this way , the model continues to predict that the demand for money will ...
Efni
The Role of the Demand Function | 3 |
Shifts of the LM and IS Curves | 13 |
Price Flexibility in the Macromodel | 22 |
Höfundarréttur | |
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Common terms and phrases
adjustment aggregate demand analysis approach argued assets banks behavior brokerage fee cash chapter consumption function cost of holding definition of money demand curve demand deposits demand for money demand function demand-for demand-for-money function discussed econometric economists effect elasticity of demand empirical Equation evidence exogenous expected inflation rate expenditure factors Figure Friedman holding money hypothesis important increase interest elasticity interest rate Laidler level of income level of real liquidity trap LM curve long-run M₁ macroeconomic matter money demanded money function money holding money supply nominal money nonhuman wealth opportunity cost P₁ parameters particular period permanent income precautionary demand predictions price level problem quantity of money rate of interest rate of return rational expectations real balances real income regression relationship relevant role scale variable shift short-run speculative demand studies supply and demand theory tion transactions and precautionary transactions demand United variations volume of transactions Y₁ yield