Year: 2011
Author: Kaiser, Dirk
Credit and Capital Markets – Kredit und Kapital, Vol. 44 (2011), Iss. 4 : pp. 491–507
Abstract
The Equation of Exchange Revisited
The article presents a more general version of the equation of exchange providing separately for a financial turnover of money as well as a corresponding financial velocity of money. This sheds a special theoretical light on the easy monetary policy implemented by the Federal Reserve between 2001 and 2004 and the enlargement of the financial sphere in the United States, which persisted until the recent financial crisis broke out – to become an international economic crisis in due course. (JEL E40, E52, G01, N12)
Journal Article Details
Publisher Name: Global Science Press
Language: English
DOI: https://doi.org/10.3790/kuk.44.4.491
Credit and Capital Markets – Kredit und Kapital, Vol. 44 (2011), Iss. 4 : pp. 491–507
Published online: 2011-10
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 17