The Demand for Money: Theories, Evidence, and ProblemsHarper & Row, 1985 - 178 síður |
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Síða 126
... interest rate to be an important variable in the function , while his recently published work with Anna J. Schwartz ... elasticity of the demand for money appeared to be close to -0.7 . This is essentially the same estimate as Meltzer ( 1963 ) ...
... interest rate to be an important variable in the function , while his recently published work with Anna J. Schwartz ... elasticity of the demand for money appeared to be close to -0.7 . This is essentially the same estimate as Meltzer ( 1963 ) ...
Síða 128
... elasticity of demand for money becomes greater as the rate of interest falls , since this is the only way it can pass from a finite to an infinite value . There appears to be little evidence that ... Interest Rate-Demand Money Relationship.
... elasticity of demand for money becomes greater as the rate of interest falls , since this is the only way it can pass from a finite to an infinite value . There appears to be little evidence that ... Interest Rate-Demand Money Relationship.
Síða 130
... interest can be expected to be unstable over time . In fact , this relationship seems to be remark- ably well determined . If we consider the United States over the period 1892-1960 , the work of Laidler ( 1966b ) shows that the elasticity ...
... interest can be expected to be unstable over time . In fact , this relationship seems to be remark- ably well determined . If we consider the United States over the period 1892-1960 , the work of Laidler ( 1966b ) shows that the elasticity ...
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