An Analysis of the Long-run Behavior of the Velocity of Circulation
The income velocity of money-an inverse measure of the demand for money balances-is the ratio of the money value of income to the average money stock that the public (excluding banks) holds in a given period
An Analysis of the Long-run Behavior of the Velocity of Circulation
The income velocity of money-an inverse measure of the demand for money balances-is the ratio of the money value of income to the average money stock that the public (excluding banks) holds in a given period