Monetary Aspects

  • Nicholas Rau
Chapter
Part of the Macmillan Studies in Economics book series

Abstract

In this chapter we consider the cyclical behaviour of the money supply. Throughout the chapter, M denotes the money stock, and ϒ national income at current prices (‘money income’ or ‘nominal income’ for short). ‘Velocity’ V, or more correctly the income velocity of money, is simply defined to be the ratio of ϒ to M; it is not a concept implying a particular view of the world.

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Copyright information

© Nicholas Rau 1974

Authors and Affiliations

  • Nicholas Rau
    • 1
  1. 1.University College LondonUK

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