A banking explanation of the US velocity of money: 1919–2004

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Benk, Szilard; Gillman, Max; Kejak, Michal; Cardiff University;
(2009)
  • Publisher: Cardiff University
  • Subject: HB

The paper shows that US GDP velocity of M1 money has exhibited long cycles around a 1.25% per year upward trend, during the 1919-2004 period. It explains the velocity cycles through shocks constructed from a DSGE model and annual time series data (Ingram et al., 1994). ... View more
  • References (35)
    35 references, page 1 of 4

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