Money Velocity with Costly Credit.

The paper functionally describes the income velocity of money by including the cost of a key substitute to money: exchange credit. Financial innovation causes the cost of credit to fall, the quantity of money demanded to fall, and the velocity to rise, all without shifting the money demand function.

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Year of publication:	1996
Authors:	Gillman M. ; Siklos ; Silver, P.L. ; J.L.
Institutions:	Department of Economics, Faculty of Business and Economics
Subject:	MONEY \| DEMAND \| TECHNOLOGY \| VELOCITY

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Series:	Department of Economics - Working Papers Series.
Type of publication:	Book / Working Paper
Notes:	Number 515 35 pages
Classification:	E40 - Money and Interest Rates. General ; E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System ; E49 - Money and Interest Rates. Other
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005578907