consumption and investment expenditures, as well as their broadly defined components, are examined. We also test for effects of … money on long run reallocations of consumption expenditures among durables, nondurables, and services. The time series …This paper tests for long run effects of money on real expenditures in the U.S. over the 1959-2002 period. Real …

the production and consumption decisions of the individual in one model. For each individual, it identifies the customers … customers. These relations deal with value (quantities and prices), payment (subsistence, barter, money, and bond) and …

trends in output, consumption and investment) to provide new evidence on this question(using subsaharan africa as a case …(the cumulative effect of permanent shocks to productivity)underlies the bulk of economic fluctuations. If confirmed, this will imply …

This paper studies the gain from using money as an indicator when monetary policy in made under data uncertainty. We … state of the economy. Money reveals some of the private sector’s information to the policymaker, especially if there is a … forward looking element in money demand. We show that observing money can considerably reduce the loss that is due to …

SAVING DOES NOT EQUAL INVESTMENT John Maynard Keynes confused economists and politicians all over the world when he … wrote, “Saving is necessary to equal investment” together with a few equations to confirm his idea and finally concluding … that S = I. There have been repeated discussions about how saving can equal investment, accidentally or with certainty. We …

addition, currency stability and expansionary money supply (M1) growth are other concerns of the BSP, though significantly so …

the U.S. and Euroland in recent years. Not surprisingly, both central banks share the same conviction that money is …