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Author : William Johnson Frazer
Publisher : Unknown
Page : 392 pages
File Size : 55,8 Mb
Release : 1967
Category : Liquidity (Economics).
ISBN : UOM:39015005667038
Author : David E. W. Laidler
Publisher : Fire Engineering Books & Videos
Page : 196 pages
File Size : 47,6 Mb
Release : 1977
Category : Business & Economics
ISBN : UOM:39015003539999
Author : Apostolos Serletis
Publisher : Springer Science & Business Media
Page : 305 pages
File Size : 54,6 Mb
Release : 2013-11-21
Category : Business & Economics
ISBN : 9781475733204
Almost half a century has elapsed since the demand for money began to attract widespread attention from economists and econometricians, and it has been a topic of ongoing controversy and research ever since. Interest in the topic stemmed from three principal sources. First of all, there was the matter of the internal dynamics of macroeco nomics, to which Harry Johnson drew attention in his 1971 Ely Lecture on "The Keynesian Revolution and the Monetarist Counter-Revolution," American Economic Review 61 (May 1971). The main lesson about money that had been drawn from the so-called "Keynesian Revolution" was - rightly or wrongly - that it didn't matter all that much. The inherited wisdom that undergraduates absorbed in the 1950s was that macroeconomics was above all about the determination of income and employment, that the critical factors here were saving and investment decisions, and that monetary factors, to the extent that they mattered at all, only had an influence on these all important variables through a rather narrow range of market interest rates. Conventional wisdom never goes unchallenged in economics, except where its creators manage to control access to graduate schools and the journals, and it is with no cynical intent that I confirm Johnson's suggestion that those of us who embarked on academic careers in the '60s found in this wisdom a ready-made target.
Author : John T. Boorman,Thomas M. Havrilesky
Publisher : Harlan Davidson
Page : 540 pages
File Size : 52,5 Mb
Release : 1972
Category : Business & Economics
ISBN : UOM:39015035096380
Author : David E. W. Laidler
Publisher : Addison Wesley
Page : 0 pages
File Size : 51,8 Mb
Release : 1993
Category : Demand for money
ISBN : 0065010981
The Demand for Money documents the residual effects of monetarism, which now form a part of the economic mainstream. David Laidler conducts an eye-opening investigation of the importance of the demand for money, particularly in light of interest rates and income levels. He has also honed his treatment of the fixed-price IS-LM model, presenting it as a prelude to developing the demand side of an aggregate demand and supply framework, and expanded the discussions of data and econometrics. This text encourages students to question the debt of our knowledge about the monetary sector, encouraging further excursions in search of first-hand experience.
Author : Neil Thompson
Publisher : Springer
Page : 223 pages
File Size : 40,6 Mb
Release : 2016-07-27
Category : Business & Economics
ISBN : 9781349228270
The book is an in-depth review of the theory and empirics of the demand for money and other financial assets. The different theoretical approaches to the portfolio choice problem are described, together with an up-to-date survey of the results obtained from empirical studies of asset choice behaviour. Both single-equation studies and the more complete multi-asset portfolio models, are analysed.
Author : Milton 1912- Friedman
Publisher : Hassell Street Press
Page : 40 pages
File Size : 41,7 Mb
Release : 2021-09-09
Category : Electronic
ISBN : 1013894847
This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Author : Lars Jonung
Publisher : Routledge
Page : 192 pages
File Size : 55,6 Mb
Release : 2018-02-06
Category : Business & Economics
ISBN : 9781351522991
The income velocity of money-an inverse measure of the demand for money balances-is the ratio of the money value of income to the average money stock that the public (excluding banks) holds in a given period. Why the magnitude of that ratio has changed over time is the subject of Michael D. Bordo and Lars Jonung's classic study, originally published as The Long-Run Behavior of the Velocity of Circulation. Supported by statistical data, econometric estimation techniques, and meticulous historical analysis, this work describes, in an international setting, how slow-moving economic, social, and political forces interact with the decisions households and firms make about how much money to hold. Annual time series of velocity for several countries from the late nineteenth century to the late twentieth century display a U-shaped pattern. Existing theories can explain each section of the velocity curve-the falling, flat, and rising parts-but the overall pattern is not consistent with any one theory. Here the authors put forth a comprehensive explanation for this behavior over time. Their theory is largely an extension of the approach of Knut Wicksell, the Swedish economist who stressed the role of substitution between monetary assets. This approach, which emphasizes institutional variables, is incorporated into the arguments for the traditional long-run money demand (velocity) function. Four types of empirical evidence strongly support the authors' theory: econometric studies of the long-run velocity function for several countries; a cross section study of approximately eighty countries in the postwar period; a case study of the Swedish monetization process in the fifty years before World War I; and an examination of the time series properties of velocity. Demand for Money suggests that institutional factors, as opposed to real income, play a greater role in velocity than previously thought. And these institutional factors have a major impact on monetary policy. This is a book that will prove of great value to economists, monetary strategists, and policymakers.
Author : Anonim
Publisher : World Bank Publications
Page : 49 pages
File Size : 42,5 Mb
Release : 1991
Category : Demand for money
ISBN : 8210379456XXX
Author : Mr.Subramanian S. Sriram
Publisher : International Monetary Fund
Page : 78 pages
File Size : 54,7 Mb
Release : 1999-05-01
Category : Business & Economics
ISBN : 9781451848540
A stable money demand forms the cornerstone in formulating and conducting monetary policy. Consequently, numerous theoretical and empirical studies have been conducted in both industrial and developing countries to evaluate the determinants and the stability of the money demand function. This paper briefly reviews the theoretical work, tracing the contributions of several researchers beginning from the classical economists, and explains relevant empirical issues in modeling and estimating money demand functions. Notably, it summarizes the salient features of a number of recent studies that applied cointegration/error-correction models in the 1990s, and it features a bibliography to aid in research on demand for money.
Author : John Maynard Keynes
Publisher : Springer
Page : 404 pages
File Size : 55,6 Mb
Release : 2018-07-20
Category : Business & Economics
ISBN : 9783319703442
This book was originally published by Macmillan in 1936. It was voted the top Academic Book that Shaped Modern Britain by Academic Book Week (UK) in 2017, and in 2011 was placed on Time Magazine's top 100 non-fiction books written in English since 1923. Reissued with a fresh Introduction by the Nobel-prize winner Paul Krugman and a new Afterword by Keynes’ biographer Robert Skidelsky, this important work is made available to a new generation. The General Theory of Employment, Interest and Money transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned. Highly provocative at its time of publication, this book and Keynes’ theories continue to remain the subject of much support and praise, criticism and debate. Economists at any stage in their career will enjoy revisiting this treatise and observing the relevance of Keynes’ work in today’s contemporary climate.
Author : Douglas Fisher
Publisher : Unknown
Page : 248 pages
File Size : 45,8 Mb
Release : 1989
Category : Demand for money
ISBN : UCAL:B4410569
Author : Helmut Lütkepohl,Jürgen Wolters
Publisher : Springer Science & Business Media
Page : 266 pages
File Size : 51,8 Mb
Release : 2013-04-17
Category : Business & Economics
ISBN : 9783662125397
In 1999 a number of member states of the European Union will adopt a common currency. This change in the monetary system requires that a Eur opean Central Bank is set up and a common monetary policy is pursued. There is general agreement among those countries which are likely to join the common currency that price level stability has to be the ultimate objec tive of monetary po1icy. It is an open issue, however, what kind of policy is best suited for that purpose. The alternative strategies under discussion are a direct inflation targeting, an intermediate monetary targeting or a mixture of both. For these policy strategies a stable money demand relation is of cen tral importance. Therefore a workshop on Money Demand in Europe was organized at the Humboldt University in Berlin on October 10/11, 1997. This research conference brought together academic and central bank econo mists and econometricians predominantly from Europe to discuss issues on specification, estimation and, in particular, stability of money demand rela tions both in a single equation and in a systems framework. In this volume revised versions of the papers presented and discussed at the workshop are collected. The volume thereby gives an overview of money demand analysis in Europe on the eve of the introduction of the Euro in some European countries. It contributes to the discussion on a suitable monetary policy for the new European Central Bank.
Author : Milton Friedman
Publisher : Unknown
Page : 38 pages
File Size : 42,9 Mb
Release : 1959
Category : Social Science
ISBN : STANFORD:36105047236646
Author : Apostolos Serletis
Publisher : World Scientific
Page : 352 pages
File Size : 43,7 Mb
Release : 2006-08-08
Category : Business & Economics
ISBN : 9789814477901
This book provides a comprehensive and systematic introduction to the problem of the definition of money and investigates the gains that can be achieved by a rigorous use of microeconomic- and aggregation-theoretic foundations in the construction of monetary aggregates. It provides readers with key aspects of monetary economics and macroeconomics, including monetary aggregation, demand systems, flexible functional forms, long-run monetary neutrality, the welfare cost of inflation, and nonlinear chaotic dynamics.This book offers the following conclusions: the simple-sum approach to monetary aggregation and log-linear money demand functions, currently used by central banks, are inappropriate for monetary policy purposes; the choice of monetary aggregation procedure is crucial in evaluating the welfare cost of inflation; the inter-related problems of monetary aggregation and money demand will be successfully investigated in the context of flexible functional forms that satisfy theoretical regularity globally, pointing the way forward to useful and productive research.