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Solving the 1980s' velocity puzzle: a progress report

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  • Courtenay C. Stone
  • Daniel L. Thornton

Abstract

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Suggested Citation

  • Courtenay C. Stone & Daniel L. Thornton, 1987. "Solving the 1980s' velocity puzzle: a progress report," Review, Federal Reserve Bank of St. Louis, issue Aug, pages 5-23.
  • Handle: RePEc:fip:fedlrv:y:1987:i:aug:p:5-23
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    References listed on IDEAS

    as
    1. Daniel L. Thornton, 1983. "Why does velocity matter?," Review, Federal Reserve Bank of St. Louis, issue Dec, pages 5-13.
    2. Spindt, Paul A, 1985. "Money Is What Money Does: Monetary Aggregation and the Equation of Exchange," Journal of Political Economy, University of Chicago Press, vol. 93(1), pages 175-204, February.
    3. John A. Tatom, 1983. "Was the 1982 velocity decline unusual?," Review, Federal Reserve Bank of St. Louis, issue Aug, pages 5-15.
    4. A. Steven Holland, 1984. "Real interest rates: what accounts for their recent rise?," Review, Federal Reserve Bank of St. Louis, issue Dec, pages 18-29.
    5. Mack Ott, 1982. "Money, credit and velocity," Review, Federal Reserve Bank of St. Louis, issue May, pages 21-34.
    6. 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, January.
    7. 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, vol. 17(2), pages 164-178, May.
    8. Helen T. Farr & Deborah Johnson, 1985. "Revisions in the monetary services (Divisia) indexes of monetary aggregates," Special Studies Papers 189, Board of Governors of the Federal Reserve System (U.S.).
    9. Helen T. Farr & Deborah Johnson, 1985. "Revisions in the monetary services (Divisia) indexes of the monetary aggregates," Staff Studies 147, Board of Governors of the Federal Reserve System (U.S.).
    10. Dallas S. Batten & Daniel L. Thornton, 1985. "Are weighted monetary aggregates better than simple-sum M1?," Review, Federal Reserve Bank of St. Louis, issue Jun, pages 29-40.
    11. G. J. Santoni, 1987. "Changes in wealth and the velocity of money," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 16-26.
    12. William Barnett, 2005. "Monetary Aggregation," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200510, University of Kansas, Department of Economics, revised Mar 2005.
    13. 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, January.
    14. Mascaro, Angelo & Meltzer, Allan H., 1983. "Long- and short-term interest rates in a risky world," Journal of Monetary Economics, Elsevier, vol. 12(4), pages 485-518, November.
    15. R. Alton Gilbert & A. Steven Holland, 1984. "Has the deregulation of deposit interest rates raised mortgage rates?," Review, Federal Reserve Bank of St. Louis, issue May, pages 5-15.
    16. Darby, Michael R, 1972. "The Allocation of Transitory Income Among Consumers' Assets," American Economic Review, American Economic Association, vol. 62(5), pages 928-941, December.
    17. Richard W. Kopcke, 1986. "How erratic is money growth?," New England Economic Review, Federal Reserve Bank of Boston, issue May, pages 3-20.
    18. 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, January.
    19. Nelson, Charles R. & Plosser, Charles I., 1982. "Trends and random walks in macroeconmic time series : Some evidence and implications," Journal of Monetary Economics, Elsevier, vol. 10(2), pages 139-162.
    20. Rasche, Robert H., 1987. "M1 -- Velocity and money-demand functions: Do stable relationships exist?," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 27(1), pages 9-88, January.
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    Citations

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    Cited by:

    1. 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, issue Nov, pages 16-26.
    2. William A. Barnett & Yi Liu & Haiyang Xu & Mark Jensen, 1996. "The CAPM Risk Adjustment Needed for Exact Aggregation over Financial Assets," Econometrics 9602003, EconWPA.
    3. Bordo, Michael D. & Jonung, Lars, 1990. "The long-run behavior of velocity: The institutional approach revisited," Journal of Policy Modeling, Elsevier, vol. 12(2), pages 165-197.
    4. Glennon, Dennis & Lane, Julia, 1996. "Financial innovation, new assets, and the behavior of money demand," Journal of Banking & Finance, Elsevier, vol. 20(2), pages 207-225, March.
    5. Visser, H., 1989. "The demand for money," Serie Research Memoranda 0073, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    6. 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, vol. 48(1), pages 23-32, February.

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    Keywords

    Money supply ; Velocity of money;

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