The Demand for Money: Theories, Evidence, and ProblemsHarper & Row, 1985 - 178 síður |
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Síða 9
... expenditure is treated as exogenous— that is , as a variable that may affect but is not affected by the other variables in the model . This income - expenditure subsystem of our model is in equilibrium when the level of expenditure in ...
... expenditure is treated as exogenous— that is , as a variable that may affect but is not affected by the other variables in the model . This income - expenditure subsystem of our model is in equilibrium when the level of expenditure in ...
Síða 10
... expenditure and the level of income . The 45 ° line plots all the points at which aggregate expenditure measured on the verti- cal axis can be equal to income measured on the horizontal axis . The aggregate expenditure curve crosses ...
... expenditure and the level of income . The 45 ° line plots all the points at which aggregate expenditure measured on the verti- cal axis can be equal to income measured on the horizontal axis . The aggregate expenditure curve crosses ...
Síða 65
... expenditure over receipts of any given size occurs just as frequently as an excess of receipts over expenditure of the same amount ; such discrepancies cancel out on the average , and our initial assumption of long - run equality ...
... expenditure over receipts of any given size occurs just as frequently as an excess of receipts over expenditure of the same amount ; such discrepancies cancel out on the average , and our initial assumption of long - run equality ...
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