4
Views
10
CrossRef citations to date
0
Altmetric
Original Articles

An Explanation for the Recent Behavior of Income and Transaction Velocities in the United Kingdom

Pages 367-389 | Published online: 04 Nov 2015

References

  • Arestis, P. “The Credit Segment of a UK post Keynesian Model.” Journal of Post Keynesian Economics, Winter 1987, 10 (2), 250–269.
  • Bain, K., and Howells, P. G. A. “The Income and Transactions Velocities of Money.” Review of Social Economy, 1991, 49 (3), 383–395.
  • Bank of England Quarterly Bulletin, 1974, 14 (4), table 11.2.
  • Bank of England Quarterly Bulletin, “Monetary Control Provisions.” August 1981, 21 (3), 347–349.
  • Bank of England Quarterly Bulletin, “The Role of the Bank of England in the Money Market.” March 1982, 22 (1), 186–194.
  • Bank of England Quarterly Bulletin, “Housing Finance: Recent Growth in Perspective.” March 1985, 25(1), 80–91.
  • Bank of England Quarterly Bulletin, “Recent Developments in Payment Clearing Systems.” August 1987, 27 (3), 392–394.
  • Bank of England Quarterly Bulletin, “Trends in Real Interest Rates.” May 1988, 28 (2), 225–231.
  • Bank of England Quarterly Bulletin, “The Housing Market.” February 1989a, 29 (1), 66–77.
  • Bank of England Quarterly Bulletin, “Challenges Facing the Sterling Wholesale Payments System.” August 1989b, 29 (3), 401–406.
  • Coghlan, R. T. “A Small Monetary Model of the UK Economy.” Bank of England Discussion Paper no. 3, 1979.
  • Cramer, J. S. “The Volume of Transactions and the Circulation of Money in the United States, 1959-70.” Journal of Business and Economic Statistics, April 1986, 4 (2), 232–252.
  • CSO. Financial Statistics Handbook, 1986.
  • CSO. Financial Statistics, December 1988.
  • CSO. Financial Statistics, November, 1989.
  • CSO. Financial Statistics, February, 1990.
  • Cuthbertson, K. “Bank Lending to UK Industrial and Commercial Companies.” Oxford Bulletin of Economics and Statistics 1985a, 47 (2), 91–118.
  • Cuthbertson, K. The Supply and Demandfor Money. Oxford: Blackwell, 1985b.
  • Cuthbertson, K., and Foster, N. “Bank Lending to Industrial and Commercial Companies in Three Models of the UK Economy.” National Institute Economic Review, August 1982, 102, 63–77.
  • Fisher, D. Money Demand and Monetary Policy. Hemel Hempstead, UK: Harvester/Wheatsheaf, 1989.
  • Friedman, M. “Lessons from the 1979-82 Monetary Policy Experiment.” American Economic Review: Papers and Proceedings, May 1984, 74.
  • Giussani, B., and Hadjimatheou, G. “Econometric Modelling of UK House Prices.” Cyprus Journal of Economics, June 1990, 3 (1), 36–57.
  • Goodhart, C. A. E. Monetary Theory and Practice, London: Macmillan, 1984.
  • Gowland, D. Money, Injlationand Unemployment. Hemel Hempstead, UK: Harvester/Wheatsheaf, 1985.
  • Hall, T. E., and Noble, N. R. “Velocity and the Variability of Money Growth: Evidence from Granger-CausalityTests.” Journal of Money, Credit and Banking, February 1987, 19 (1), 112–116.
  • Howells, P. G. A. “Bank Liability Management and Monetary Policy.” Cyprus Journal of Economics, June 1990, 3 (1), 19–35.
  • Judd, J. P., and Motley, B. “The Great Velocity Decline of 1982-3: A Comparative Analysis of M1 and M2.” Economic Review, The Federal Reserve Bank of San Francisco, Summer 1984.
  • Kaldor, N. The Scourge of Monetarism. London: Oxford University Press, 1982.
  • Kalecki, M. Selected Essays on the Dynamics of the Capitalist Economy. Cambridge: Cambridge University Press, 1971.
  • Keynes, J. M. A Treatise on Money: I—The Pure Theory of Money. London: Macmillan, 1930a.
  • Keynes, J. M. A Treatise on Money: II—The Applied Theory of Money. London: Macmillan, 1930b.
  • Klein, B. “The Demand for Quality-adjusted Cash Balances: Price Uncertainty in the US Demand for Money Function.” Journal of Political Economy, August 1977, 85 (4), 691–716.
  • Leigh-Pemberton, R. “Problems of Monetary Policy and Change in the City.” Bank of England Quarterly Bulletin, December 1985, 25 (4), 534–536.
  • Mankiw, N. G., and Summers, L. H. “Money Demand and the Effects of Fiscal Policy.” Journal of Money, Credit and Banking, November 1986, 18 (4), 415–429.
  • Mascaro, A., and Meltzer, A. H. “Long and Short-term Interest Rates in a Risky World.” Journal of Monetary Economics, November 1983, 12 (4), 485–518.
  • Mehra, Y. P. “Velocity and the Variability of Money Growth: Evidence from Granger-Causality Tests.” Journal of Money, Credit and Banking, May 1989, 21 (2), 262–266.
  • Moore, B. I. “The Endogenous Money Supply.” Journal of Post Keynesian Economics, Fall 1979, 10 (3), 372–385.
  • Moore, B. I. “Unpacking the Post-Keynesian Black Box.” In Post-Keynesian Monetary Economics, P. Arestis, ed. Aldershot, UK: Edward Elgar, 1988.
  • Moore, B. J., and Threadgold, A. 1980 “Bank Lending and the Money Supply.” Bank of England Discussion Paper no. 10, July.
  • Moore, B. J., and Threadgold, A. “Corporate Bank Borrowing in the UK, 1965-81.” Economica, February 1985, 52, 65–78.
  • Niggle, C. J. “The Increasing Importance of Financial Capital in the US Economy.” Journal of Economic Issues, June 1988.
  • Niggle, C. J. “Monetary Policy and Changes in Income Distribution.“ Journal of Economic Issues, September 1989, 22 (2), 581–588.
  • Rasche, R. H. “M1-Velocity and Money Demand Functions: Do Stable Relationships Exist?” Carnegie-Rochester Conference Series on Public Policy 1987, 27.
  • Savage, D. The Monetary Sector of the NIESR Model: Preliminary Results, NIESR Discussion Paper no. 21, 1978.
  • Selden, R. T. “Monetary Velocity in the United States.” In Studies in the Quantity Theory of Money, M. Friedman ed. Chicago: University of Chicago Press, 1956.
  • Spencer, P. D., and Mowl, C. “A Financial Sector for the Treasury Model.” Government Economic Service Working Paper, no. 17, December 1978.
  • Sprenkle, C. M., and Miller, M. H. “The Precautionary Demand for Broad and Narrow Money.” Economica, November 1980, 47, 407–421.
  • Taylor, H. “What Has Happened to Ml?” Business Review 1986, Federal Reserve Bank of Philadelphia, September/October.
  • Tobin, J. “Liquidity Preference as Behaviour Toward Risk.” Review of Economic Studies, February 1959, 38, 241–247.
  • Trehan, B., and Walsh, C. “Portfolio Substitution and Recent Ml Behaviour.” Contemporary Policy Issues, January 1987, 5 (1), 54–63.
  • Volcker, P. “Statement to Congress.” The Federal Reserve Bulletin, March 1983.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.