The Demand for Money: An Analysis of the Long-Run Behavior of the Velocity of Circulation
Michael D. Bordo • Transaction Publishers • ISBN-13 978-0765809612
The Demand for Money: An Analysis of the Long-Run Behavior of the Velocity of Circulation
Michael D. Bordo • Transaction Publishers
ISBN-10: 1765235855 · ISBN-13: 978-0765809612 · 1989 · 1st Edition
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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.
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