Liuyan, ZHAO; Yiming, WANG - In: Frontiers of Economics in China 1 (2006) 2, pp. 256-271
The income velocity of money in China has been declining since the country's reform. By studying the money demand behavior in the agricultural and non-agricultural sectors, we found that the marginal propensity to money demand is much higher in the non-agricultural sector. This implies that as...