Cloth: 978-0-226-26409-7 | Paper: 978-0-226-26410-3 | Electronic: 978-0-226-26425-7
DOI: 10.7208/chicago/9780226264257.001.0001
ABOUT THIS BOOK
TABLE OF CONTENTS
4.4 Appendix
List of Charts
List of Tables
Preface
Principal Empirical Findings
1 Scope of the Study
2 The General Theoretical Framework
2.1 The Quantity Theory: Nominal versus Real Quantity of Money
2.2 Quantity Equations
2.3 Supply of Money in Nominal Units
2.4 The Demand for Money
2.5 The Keynesian Challenge to the Quantity Theory
2.6 The Adjustment Process
2.7 An Illustration
2.8 Conclusion
3.1 The Reference Phase Base as the Unit
3.2 Rates of Change Computed from Phase Bases
4 The Basic Data
4.1 United States Data
4.2 United Kingdom Data
5.1 United States and United Kingdom Money Balances at the Beginning and End of a Century
5.2 Long Swings in the Levels of Money, Income, and Prices
5.3 Rates of Change of Money, Income,and Prices
5.4 Conclusion
5.5 Appendix
6 Velocity and the Demand for Money
6.1 Velocity: A Will-o'-the-Wisp?
6.2 Velocity: A Numerical Constant?
6.3 Effect of Financial Sophistication
6.4 Effect of Real per Capita Income
6.5 Effect of Population and Prices
6.6 Effect of Costs of Holding Money
6.7 Effect of All Variables Combined
6.8 Appendix A
6.9 Appendix B
7 Velocity and the Interrelations between the United States and the United Kingdom
7.1 The Reference Chronology
7.2 Correlation of United States and United Kingdom Velocities and Their Determinants
7.3 Role of Common Determinants of Velocity
7.4 Money and Income
7.5 Conclusion
7.6 Appendix
8 Monetary Influences on Nominal Income
8.1 From the Demand for Balances to theBehavior of Nominal Income
8.2 Replacing Yields by Prior Income and Money
8.3 Replacing Prior Income by Prior Money
8.4 Appendix
9 Division of Change in Income between Prices and Output
9.1 Alternative Simple Explanations
9.2 Price and Output Correlations
9.3 The Effect of Lengthening the Period
9.4 Framework for Further Analysis
9.5 Effect of Money and Yields
9.6 Effect of Current and Prior Money and Prior Income
9.7 Effect of Output Capacity and Anticipations:The Phillips Curve Approach
9.8 Effect of Output Capacity and Anticipations:The Approach through Alternative Models of the Formation of Anticipations
9.9 Conclusion
9.10 Appendix
10 Money and Interest Rates
10.1 The Theoretical Analysis
10.2 Average Yields
10.3 A Digression on the Measurement of Yields
10.4 Yields in Subperiods
10.5 Relation between Yields on Nominal and Physical Assets
10.6 Nominal Yields, Price Levels, and Rates of Change of Prices
10.7 Alternative Explanations of the Gibson Paradox
10.8 The Structural Change in the 1960s
10.9 Correlations with Money
10.10 Conclusion
11.1 Past Work on Long Swings
11.2 Are the Swings Episodic or Cyclical?
11.3 The Role of Money in Long Swings
11.5 Summary
12 The Role of Money
12.2 Two Extreme Theories
12.3 The Demand for Money
12.4 Common Financial System
12.5 Dynamic Effects on Nominal Income
12.7 Interest Rates
12.9 Fisher and Gibson
12.10 Long Swings
References
Author Index
Subject Index