Money and Functional Distribution of Income

Faik Koray ()

Journal of Money, Credit and Banking, 1989, vol. 21, issue 1, 33-48

Abstract: This paper analyzes the role of money growth on functional income shares in the short-run. The analysis is conducted within the framework of an equilibrium model. It is shown that a currently unperceived shock to money growth leads to an increase in both total wages and profits. The empirical findings provide some support for the predictions of the model with respect to the role of unanticipated money growth, but also find evidence about the significance of anticipated money growth. Copyright 1989 by Ohio State University Press.

Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:mcb:jmoncb:v:21:y:1989:i:1:p:33-48

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