Umfang:
33, [12] S.
,
graph, Darst.
,
22 cm
Serie:
Working paper series / National Bureau of Economic Research 10016
Inhalt:
We exposit the link between money, velocity and prices in an inventory-theoretic model of the demand for money and explore the extent to which such a model can account for the short-run volatility of velocity, the negative correlation of velocity and the ratio of money to consumption, and the resulting stickiness' of the aggregate price level relative to a benchmark model with constant velocity. We find that an inventory-theoretic model of the demand for money is a natural framework for understanding these aspects of the dynamics of money, velocity and prices in the short run.
Weitere Ausg.:
Erscheint auch als Online-Ausgabe
Sprache:
Englisch
URL:
Volltext
(kostenfrei)