The standard input-output relationships are complemented by monetary stock-flow data. The flow of money is described as a Markov chain. Its ergodic state is equivalent to the economic equilibrium. The definition of the latter requires thus neither labor-theoretic nor marginalist assumptions. The Fisher equation for the velocity of money circulation can be expressed in this input-output context. The average velocity and its dispersion are then determined. The theorems are illustrated on a 5 x 5 sector Hungarian matrix. Copyright 1993 by Taylor and Francis Group
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