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The effects of disinflationary policies on monetary velocity

  • William T. Gavin
  • William G. Dewald

A study of the effect of disinflation policies on monetary velocity, which shows a systematic relation between unexpected changes in the money-income relationship and changes in the trends of inflation rates, and which concludes that the failure to commit to a stable price policy tends to destabilize the economy.

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File URL: http://www.clevelandfed.org/research/Workpaper/1989/wp8901.pdf
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Paper provided by Federal Reserve Bank of Cleveland in its series Working Paper with number 8901.

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Date of creation: 1989
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Handle: RePEc:fip:fedcwp:8901
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  1. Kormendi, Roger C & Meguire, Philip G, 1984. "Cross-Regime Evidence of Macroeconomic Rationality," Journal of Political Economy, University of Chicago Press, vol. 92(5), pages 875-908, October.
  2. Rasche, 1988. "Demand Functions For U.S. Money And Credit Measures," Papers 8718, Michigan State - Econometrics and Economic Theory.
  3. William Poole, 1987. "Monetary Policy Lessons of recent Inflation and Disinflation," NBER Working Papers 2300, National Bureau of Economic Research, Inc.
  4. Roley, V Vance, 1985. "Money Demand Predictability," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 17(4), pages 611-41, November.
  5. 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.
  6. William S. Haraf, 1986. "Monetary Velocity and Monetary Rules," Cato Journal, Cato Journal, Cato Institute, vol. 6(2), pages 641-666, Fall.
  7. Karamouzis, Nicholas & Lombra, Raymond, 1989. "Federal reserve policymaking: an overview and analysis of the policy process," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 30(1), pages 7-62, January.
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