The Demand for Money: Theories, Evidence, and ProblemsHarper & Row, 1985 - 178 síður |
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Síða 34
... Effect As noted in Chapter 3 ( p . 29 , footnote 3 ) , the wealth effect is a mechanism whereby changes in the price level shift the IS curve . They influence the level of aggregate demand directly , rather than by way of their effect ...
... Effect As noted in Chapter 3 ( p . 29 , footnote 3 ) , the wealth effect is a mechanism whereby changes in the price level shift the IS curve . They influence the level of aggregate demand directly , rather than by way of their effect ...
Síða 74
... effect and the income effect ( it may be better to call it the wealth effect here ) potentially working in opposite directions . Consider Figure 6.7 , which reproduces Figure 6.5 . The movement from E。 to E , can be regarded as partly ...
... effect and the income effect ( it may be better to call it the wealth effect here ) potentially working in opposite directions . Consider Figure 6.7 , which reproduces Figure 6.5 . The movement from E。 to E , can be regarded as partly ...
Síða 75
... effect , b the wealth effect , and a + b the total effect of the rate of interest being r1 rather than ro . changes . Changes in the rate of interest leave wealth unaltered only for individ- uals who are not holding bonds when the rate ...
... effect , b the wealth effect , and a + b the total effect of the rate of interest being r1 rather than ro . changes . Changes in the rate of interest leave wealth unaltered only for individ- uals who are not holding bonds when the rate ...
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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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