Demand for Money: An Analysis of the Long-run Behavior of the Velocity of Circulation Book + PRICE WATCH * Amazon pricing is not included in price watch

Demand for Money: An Analysis of the Long-run Behavior of the Velocity of Circulation Book

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. 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 fi rms make about how much money to hold.Read More

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  • 0765809613
  • 9780765809612
  • Michael D. Bordo, Lars Jonung
  • 30 June 2003
  • Transaction Publishers
  • Paperback (Book)
  • 181
  • Revised edition
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