MacDonald, R. and Peel, D.A. (1986) The velocity of money and the random walk hypothesis. Economics Letters, 20(1), pp. 63-66. (doi: 10.1016/0165-1765(86)90082-0)
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Abstract
In this note it is shown, using a simple money demand function and the assumption of rational expectations, that the velocity of money may be expected to have a more complex time series representation than that proposed by other researchers. The hypothesis is tested using quarterly U.K. data, over the period 1971 to 1982.
Item Type: | Articles |
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Status: | Published |
Refereed: | Yes |
Glasgow Author(s) Enlighten ID: | MacDonald, Professor Ronald |
Authors: | MacDonald, R., and Peel, D.A. |
College/School: | College of Social Sciences > Adam Smith Business School > Economics |
Journal Name: | Economics Letters |
Publisher: | Elsevier |
ISSN: | 0165-1765 |
ISSN (Online): | 1873-7374 |
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