A Keynes-Friedman Money Demand Function.
This article examines the Keynes-Friedman model of money demand function. The Keynes-Friedman approach leads to money demand being a function of a modified exponentially weighted average of income, which measures finance requirements. The model distinguishes between short-run and long-run expected i...
| Publicado en: | American Economic Review Vol. 65; no. 4; pp. 610 - 624 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
American Economic Association
Sep75
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| Sumario: | This article examines the Keynes-Friedman model of money demand function. The Keynes-Friedman approach leads to money demand being a function of a modified exponentially weighted average of income, which measures finance requirements. The model distinguishes between short-run and long-run expected income and associates the former with transactions and finance variables and the latter with asset variable. The generally accepted Keynesian money demand function relates money balances to current income which measures transactions requirements, and to an interest rate mainly because of the speculative motive. |
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