Has the long-run velocity of M2 shifted? Evidence from the P* model

An examination of one of the P-Star model's primary assumptions: the constancy of M2's long-run velocity, or V-Star. Using actual data through the end of 1992, the authors find that simulations of the model under a variety of hypotheses regarding changes in V-Star provide little support for a dramatic shift in that measure.

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Year of publication:	1993
Authors:	Hallman, Jeffrey J. ; Anderson, Richard G.
Published in:	Economic Review. - Federal Reserve Bank of Cleveland. - 1993, Q I, v. 29, no. 1, p. 14-26
Publisher:	Federal Reserve Bank of Cleveland
Subject:	Inflation (Finance) \| Money supply \| Velocity of money

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005707873