Moneta, attività liquide, velocità di circolazione e politica monetaria. (Money, liquid assets, velocity and monetary policy)

Authors

  • G. GARVY

DOI:

https://doi.org/10.13133/2037-3651/12438

Keywords:

Liquid assets, GNP, velocity of money, US, monetary policy

Abstract

The present article analyses the significance of the rise in liquid assets in relation to GNP, the related increase in the velocity of money and the declining role of money as a financial asset in the U.S. economy. Moreover, the significance of these developments for monetary policy is considered. The author argues that far from being inimical to the execution of monetary policy, changes in velocity are actually another aspect of the system of checks and balances which characterise the operations of the economic system.


JEL: E40, E50, E52


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Issue

Vol. 18 No. 69 (1965)

Section

Articoli

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