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Solving the 1980s' velocity puzzle: a progress report

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  • Courtenay C. Stone
  • Daniel L. Thornton

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File URL: http://research.stlouisfed.org/publications/review/87/08/Solving_Aug_Sep1987.pdf
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Bibliographic Info

Article provided by Federal Reserve Bank of St. Louis in its journal Review.

Volume (Year): (1987)
Issue (Month): Aug ()
Pages: 5-23

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Handle: RePEc:fip:fedlrv:y:1987:i:aug:p:5-23

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Keywords: Money supply ; Velocity of money;

References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. William Barnett, 2005. "Monetary Aggregation," Macroeconomics, EconWPA 0503017, EconWPA.
  2. Michael R. Darby & William Poole & David E. Lindsey & Milton Friedman & Michael J. Bazdarich, 1987. "Recent Behavior Of The Velocity Of Money," Contemporary Economic Policy, Western Economic Association International, vol. 5(1), pages 1-33, 01.
  3. Dallas S. Batten & Daniel L. Thornton, 1985. "Are weighted monetary aggregates better than simple-sum M1?," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue Jun, pages 29-40.
  4. G.J. Santoni, 1987. "Changes in wealth and the velocity of money," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue Mar, pages 16-26.
  5. John A. Tatom, 1983. "Was the 1982 velocity decline unusual?," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue Aug, pages 5-15.
  6. Helen T. Farr & Deborah Johnson, 1985. "Revisions in the monetary services (Divisia) indexes of monetary aggregates," Special Studies Papers, Board of Governors of the Federal Reserve System (U.S.) 189, Board of Governors of the Federal Reserve System (U.S.).
  7. R. Alton Gilbert & A. Steven Holland, 1984. "Has the deregulation of deposit interest rates raised mortgage rates?," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue May, pages 5-15.
  8. Darby, Michael R, 1972. "The Allocation of Transitory Income Among Consumers' Assets," American Economic Review, American Economic Association, American Economic Association, vol. 62(5), pages 928-41, December.
  9. Helen T. Farr & Deborah Johnson, 1985. "Revisions in the monetary services (Divisia) indexes of the monetary aggregates," Staff Studies, Board of Governors of the Federal Reserve System (U.S.) 147, Board of Governors of the Federal Reserve System (U.S.).
  10. Richard W. Kopcke, 1986. "How erratic is money growth?," New England Economic Review, Federal Reserve Bank of Boston, Federal Reserve Bank of Boston, issue May, pages 3-20.
  11. Spindt, Paul A, 1985. "Money Is What Money Does: Monetary Aggregation and the Equation of Exchange," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 93(1), pages 175-204, February.
  12. A. Steven Holland, 1984. "Real interest rates: what accounts for their recent rise?," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue Dec, pages 18-29.
  13. Bharat Trehan & Carl E. Walsh, 1987. "Portfolio Substitution And Recent M1 Behavior," Contemporary Economic Policy, Western Economic Association International, vol. 5(1), pages 54-63, 01.
  14. Rasche, Robert H., 1987. "M1 -- Velocity and money-demand functions: Do stable relationships exist?," Carnegie-Rochester Conference Series on Public Policy, Elsevier, Elsevier, vol. 27(1), pages 9-88, January.
  15. Robert L. Hetzel, 1987. "Will Recent High Growth Rates Of Money Revive Inflation?," Contemporary Economic Policy, Western Economic Association International, vol. 5(1), pages 41-53, 01.
  16. Daniel L. Thornton, 1983. "Why does velocity matter?," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue Dec, pages 5-13.
  17. Mack Ott, 1982. "Money, credit and velocity," Review, Federal Reserve Bank of St. Louis, Federal Reserve Bank of St. Louis, issue May, pages 21-34.
  18. Thornton, Daniel L & Batten, Dallas S, 1985. "Lag-Length Selection and Tests of Granger Causality between Money and Income," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 17(2), pages 164-78, May.
  19. Mascaro, Angelo & Meltzer, Allan H., 1983. "Long- and short-term interest rates in a risky world," Journal of Monetary Economics, Elsevier, Elsevier, vol. 12(4), pages 485-518, November.
  20. Nelson, Charles R. & Plosser, Charles I., 1982. "Trends and random walks in macroeconmic time series : Some evidence and implications," Journal of Monetary Economics, Elsevier, Elsevier, vol. 10(2), pages 139-162.
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Citations

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Cited by:
  1. Glennon, Dennis & Lane, Julia, 1996. "Financial innovation, new assets, and the behavior of money demand," Journal of Banking & Finance, Elsevier, Elsevier, vol. 20(2), pages 207-225, March.
  2. Levi, Maurice D. & Venezia, Itzhak & Zhang, Yimin, 1996. "The velocity puzzle revisited: The effects of the housing and stock markets," Journal of Economics and Business, Elsevier, Elsevier, vol. 48(1), pages 23-32, February.
  3. William Barnett & Yi Liu & Haiyang Xu & Mark Jensen, 2012. "The CAPM Risk Adjustment Needed for Exact Aggregation over Financial Assets," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 201215, University of Kansas, Department of Economics, revised Sep 2012.
  4. Peter N. Ireland, 1991. "Financial evolution and the long-run behavior of velocity : new evidence from U.S. regional data," Economic Review, Federal Reserve Bank of Richmond, Federal Reserve Bank of Richmond, issue Nov, pages 16-26.

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