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:
Departments: Lancaster University Management School > Economics
ID Code: 55916
Deposited By: ep_importer_pure
Deposited On: 17 Jul 2012 13:52
Refereed?: Yes
Published?: Published
Last Modified: 01 Jan 2020 07:59
URI: https://eprints.lancs.ac.uk/id/eprint/55916

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