A note on income velocity of money in a cash-in-advance economy with capital

Jana Hromcová

    Research output: Contribution to journalArticleResearchpeer-review

    4 Citations (Scopus)

    Abstract

    A stochastic growth model with money introduced via a cash-in-advance constraint is used to analyze the income velocity of real balances. The variability of velocity arises because of the uncertainty about the realization of the state of the economy. Velocity corresponding to the range of values found in empirical data can be obtained.
    Original languageEnglish
    Pages (from-to)91-96
    JournalEconomics Letters
    Volume60
    Issue number1
    Publication statusPublished - 1 Jul 1998

    Keywords

    • Cash-in-advance model
    • E40
    • Endogenous growth
    • Income velocity
    • O42

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