The Demand for Money: Theories, Evidence, and ProblemsHarper & Row, 1985 - 178 síður |
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Síða 23
... real quantity of money will be depends on the price level . For a given nominal quantity of money , the lower the price level , the proportionately higher will be the quantity of real money and vice versa . The effects on our IS - LM ...
... real quantity of money will be depends on the price level . For a given nominal quantity of money , the lower the price level , the proportionately higher will be the quantity of real money and vice versa . The effects on our IS - LM ...
Síða 25
... level Ms. There is a price level Pα ) which exceeds Pα ) by the same proportion in which Ms exceeds Mso , and if it rules , LM , is the relevant LM curve . Thus , with this new quantity of money , Yo is still the equilibrium level of real ...
... level Ms. There is a price level Pα ) which exceeds Pα ) by the same proportion in which Ms exceeds Mso , and if it rules , LM , is the relevant LM curve . Thus , with this new quantity of money , Yo is still the equilibrium level of real ...
Síða 28
... real wage and is the marginal product curve corresponding to the total product curve displayed in panel ( a ) . Ls ... level of output Ŷ off the vertical axis of panel ( a ) . 3.7 is derived on the assumption that the level of aggregate ...
... real wage and is the marginal product curve corresponding to the total product curve displayed in panel ( a ) . Ls ... level of output Ŷ off the vertical axis of panel ( a ) . 3.7 is derived on the assumption that the level of aggregate ...
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