Logo
Munich Personal RePEc Archive

An algorithm for estimating the volatility of the velocity of money

Alikhanov, Murat and Taylor, Leon (2013): An algorithm for estimating the volatility of the velocity of money.

This is the latest version of this item.

[thumbnail of MPRA_paper_62902.pdf]
Preview
PDF
MPRA_paper_62902.pdf

Download (143kB) | Preview

Abstract

This note develops a gauge of the volatility of money velocity, based on the quantity equation of exchange. In contrast to ad hoc regression, the gauge measures the impacts of the three determinants of velocity – money supply, output, and the price level. An application to a fast-growing transition economy, Kazakhstan, finds that at the margin, price shocks affect the volatility of velocity more than do monetary or real shocks, by several orders of magnitude.

Available Versions of this Item

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.