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The Monetary Multiplier

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Author Info
Andras Brody
Abstract

After modelling the circulation of money as a Markov chain, a special multiplier is set up, explained and investigated. It describes, in mathematical terms, the enlivening course of new money, or the propagation of a monetary injection into a given economy, which David Hume inspected in his famous essay. Some explanation is given to why he considered it, justly, as a transitory phenomenon.

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Publisher Info
Article provided by Taylor and Francis Journals in its journal Economic Systems Research.

Volume (Year): 12 (2000)
Issue (Month): 2 (June)
Pages: 215-219
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Handle: RePEc:taf:ecsysr:v:12:y:2000:i:2:p:215-219

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Related research
Keywords: Equilibrium Ergodic Properties Circulation Of Money;

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References listed on IDEAS
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.:
  1. Molnar, Gyorgy & Simonovits, Andras, 1998. "The Subdominant Eigenvalue of a Large Stochastic Matrix," Economic Systems Research, Taylor and Francis Journals, vol. 10(1), pages 79-82, March.
  2. Leontief, Wassily & Brody, Andras, 1993. "Money-Flow Computations," Economic Systems Research, Taylor and Francis Journals, vol. 5(3), pages 225-33.
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Cited by:
(explanations, 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.)

  1. N. Vijayamohanan Pillai, 2006. "Causality and Error Correction in Markov Chain: Inflation in India Revisited," Working Papers id:743, esocialsciences.com. [Downloadable!]
  2. N. Vijayamohanan Pillai, 2004. "Causality and error correction in Markov chain: Inflation in India revisited," Centre for Development Studies, Trivendrum Working Papers 366, Centre for Development Studies, Trivendrum, India. [Downloadable!]
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