The Mathematical Decomposition of the Transactions Velocity of Money

Hakun Kim

No 550, Econometric Society 2004 Far Eastern Meetings from Econometric Society

Abstract: This paper is an attempt to decompose the average transactions velocity of money into two or more individual velocities. When the economy-wide velocity is expressed as a weighted average of two disaggregated velocities, this provides an equation with two unknowns. The additional equation can be created from the concept of two versions of the exchange equations; the Fisherian and Cambridge equation. The former represents the Fisherian problem, while the latter the Marshallian problem. Their integration furnishes us with the second equation to solve the system

Keywords: velocity indifference curve; iso-velocity line; transactions time (search for similar items in EconPapers)
JEL-codes: E4 G2 (search for similar items in EconPapers)
Date: 2004-08-11
New Economics Papers: this item is included in nep-mon
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