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Zu den langfristigen Bestimmungsgründen der Umlaufgeschwindigkeit des Geldes: Ein sektoraler Ansatz

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Sell, F. Zu den langfristigen Bestimmungsgründen der Umlaufgeschwindigkeit des Geldes: Ein sektoraler Ansatz. Credit and Capital Markets – Kredit und Kapital, 30(3), 325-347. https://doi.org/10.3790/ccm.30.3.325
Sell, Friedrich L. "Zu den langfristigen Bestimmungsgründen der Umlaufgeschwindigkeit des Geldes: Ein sektoraler Ansatz" Credit and Capital Markets – Kredit und Kapital 30.3, 1997, 325-347. https://doi.org/10.3790/ccm.30.3.325
Sell, Friedrich L. (1997): Zu den langfristigen Bestimmungsgründen der Umlaufgeschwindigkeit des Geldes: Ein sektoraler Ansatz, in: Credit and Capital Markets – Kredit und Kapital, vol. 30, iss. 3, 325-347, [online] https://doi.org/10.3790/ccm.30.3.325

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Zu den langfristigen Bestimmungsgründen der Umlaufgeschwindigkeit des Geldes: Ein sektoraler Ansatz

Sell, Friedrich L.

Credit and Capital Markets – Kredit und Kapital, Vol. 30 (1997), Iss. 3 : pp. 325–347

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Friedrich L. Sell, Dresden

References

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Abstract

On the Long-run Determinants of Income Velocity of Money: A Sectoral Approach

Up to now, monetary explanations were in the limelight of the research on the trend reversals in the income velocity of money. Bordo/Jonung, among others, represent this type of research. Also, a greater variability of the money demand function has been observed. In this paper, an attempt is made to show that there are also good reasons for variations/trend reversals in the income velocity of money founded in the “real” economic world. These effects result from the significant- different habits of money holdings in the formal economy on the one side and in the informal economy on the other side. Economic policy measures - above all those of (de)regulation - lead, at a given interdependence between the two sectors, to a shift of sizes which can in part explain the variability of the income velocity of money. The results are derived within a general equilibrium approach.