Velocity and the Volatility of Unanticipated and Anticipated Money Supply in the United Kingdom
نویسندگان
چکیده
This paper uses the Granger causality method to test on United Kingdom data the relationship between income velocity and unanticipated and anticipated money supply and their respective volatilities over the period 1966-88. The results suggest that unanticipated and anticipated money supply and the volatility of these variables did not help predict income velocity and thus were not important factors in the decline in income velocity in the 1980s. [E52]
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