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Title: |
Velocity and the Volatility of Unanticipated and Anticipated Money
Supply in the United Kingdom |
| Author: |
Thornton, John;
Molyneux, Philip |
| Author
Affiliation: |
IMF and U
Wales, Bangor; U Wales, Bangor |
| Source: |
International Economic Journal, Autumn 1995, v. 9, no. 3, pp. 61-66 |
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Publication Date: |
Autumn 1995 |
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Abstract: |
This paper uses the Granger causality
method to test on United Kingdom data the relationship between income
velocity and unanticipated and anticipated money supply and their
respective volatilities over the period 1966-88. The results suggest
that unanticipated and anticipated money supply and the volatility of
these variables did not help predict income velocity and thus were not
important factors in the decline in income velocity in the 1980s. |
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