Research
BPEA | 1976 No. 1Some Problems of Money Demand
Jared J. Enzler,
Jared J. Enzler
Staff, Board of Governors of the Federal Reserve System
John Paulus, and
John Paulus
Staff, Board of Governors of the Federal Reserve System
Lewis Johnson
Lewis Johnson
Staff, Board of Governors of the Federal Reserve System
Jared J. Enzler
Staff, Board of Governors of the Federal Reserve System
John Paulus
Staff, Board of Governors of the Federal Reserve System
Lewis Johnson
Staff, Board of Governors of the Federal Reserve System
1976, No. 1
THE CURRENT ECONOMIC upturn has been characterized by unusually low
rates of money growth relative to the increase in nominal gross national
product. Even more surprising, the unusual rise in velocity has occurred
while short-term interest rates have remained largely unchanged or even
fallen slightly (see table 1).