The Demand for Money: Theories, Evidence, and ProblemsHarper & Row, 1985 - 178 síður |
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Síða 23
... money , and so this just - mentioned property of our analysis did not need to be stressed earlier . It does now , because the supply of money the monetary authorities can control in any actual economy is the nominal supply . Given the ...
... money , and so this just - mentioned property of our analysis did not need to be stressed earlier . It does now , because the supply of money the monetary authorities can control in any actual economy is the nominal supply . Given the ...
Síða 26
... nominal income is determined solely by the supply of money and the curve may be drawn as a rectangular hyperbola , as in Figure 3.4 . If we make the polar opposite assumption about the demand - for - money rate of interest relationship ...
... nominal income is determined solely by the supply of money and the curve may be drawn as a rectangular hyperbola , as in Figure 3.4 . If we make the polar opposite assumption about the demand - for - money rate of interest relationship ...
Síða 112
... money function . To see this , consider the following simple example . Suppose that , where p * is the long- run ... nominal money supply does vary exogenously in the data being studied , for that reason alone ( 8.5 ) is misspecified ...
... money function . To see this , consider the following simple example . Suppose that , where p * is the long- run ... nominal money supply does vary exogenously in the data being studied , for that reason alone ( 8.5 ) is misspecified ...
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