This paper investigates the behaviour of M2 velocity in recent years with special emphasis on the post-1989 period. Unlike previous studies in this area, M2 velocity is analysed in the context of a small vector autoregressive (VAR) model which includes income, prices, interest rates, and money...

A "revisionist" view of the European fertility transition has challenged the previously accepted causal roles of economic forces. The authors' contribution has been to construct and test an econometric model in which economic growth causes fertility change. They find that rising per capita...