Format:
33, [12] S.
,
graph, Darst.
,
22 cm
Series Statement:
Working paper series / National Bureau of Economic Research 10016
Content:
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.
Additional Edition:
Erscheint auch als Online-Ausgabe
Language:
English
URL:
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