Velocity and money growth variability: evidence from Japan

Dennis McCornac

Applied Economics Letters, 1994, vol. 1, issue 9, 145-147

Abstract: This paper investigates the robustness of the Friedman hypothesis that states the volatility of money growth influences the velocity of money. Using data for Japan the Granger-causality method is implemented to test for the effect of the variability of the Japanese monetary aggregate M2+CDs on velocity. The regression estimates support the Friedman hypothesis.

Date: 1994
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:1:y:1994:i:9:p:145-147

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DOI: 10.1080/135048594357998

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