This paper studies the joint business cycle dynamics of inflation, money growth, nominal and real interest rates and the … velocity of money. I extend and estimate a standard cash and credit monetary model by adding idiosyncratic preference shocks to …

Currency in circulation, together with demand deposits, is a component of narrow money which movements are of special … circulation in particular economy, among which the most important ones are: 1/ share of currency in circulation in money supply … interest for policy makers. There are several relevant indicators showing the relative significance of the currency in …