On the sluggish response of prices to money in an inventory-theoretic model of money demand
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 result...
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| Hauptverfasser: | , , |
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| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2003
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| Schriftenreihe: | Working paper series / National Bureau of Economic Research
10016 |
| Online-Zugang: | kostenfrei |
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