The velocity of money and the random walk hypothesis

Macdonald, R. and Peel, David (1986) The velocity of money and the random walk hypothesis. Economics Letters, 20 (1). pp. 63-66. ISSN 0165-1765

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Abstract

In this note it is shown, using a simple money demand function and the assumption of rational expectations, that thevelocity of money may be expected to have a more complex time series representation than that proposed by other researchers. Thehypothesis is tested using quarterly U.K. data, over the period 1971 to 1982.

Item Type:
Journal Article
Journal or Publication Title:
Economics Letters
Uncontrolled Keywords:
/dk/atira/pure/researchoutput/libraryofcongress/hb
Subjects:
ID Code:
55916
Deposited By:
Deposited On:
17 Jul 2012 13:52
Refereed?:
Yes
Published?:
Published
Last Modified:
01 Jan 2020 07:59