Empirical model of the behavior of the income velocity of money in Colombia, 1982 – 2001

dc.citation.epage92
dc.citation.issue17
dc.citation.journalAbbreviatedTitleEcos de Economíaeng
dc.citation.journalTitleEcos de Economia: A Latin American journal of applied economicseng
dc.citation.spage79
dc.citation.volume7
dc.contributor.affiliationNorth Carolina State Universityspa
dc.contributor.authorZapata, Gisela P.spa
dc.coverage.spatialMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degreeseng
dc.date15/10/2003
dc.date.accessioned2020-01-31T18:44:03Z
dc.date.available2020-01-31T18:44:03Z
dc.date.issued15/10/2003
dc.descriptionThe study of the income velocity of money is important since monetary factors play a causal role in output fluctuations. The issue of the stability of money demand is critical in assessing the monetary aggregates, M1/M3, usefulness for the formulation of monetary policy. In Colombia, the M1 income velocity of money has been very volatile whereas the M3 velocity has been pretty stable over the last 20 years. Contrary to the assumption underlying the Quantity Theory of Money, the evidence here indicates that the income velocity of money is not constant in Colombia for the 1982 – 2001 period. The statistical results show that there is a positive relationship between the Colombian inflation rate and the M1 and M3 income velocities of money. A higher rate of inflation will translate into a higher nominal interest rate. The higher the interest rates the higher the opportunity cost of holding money and so the greater the income velocity.eng
dc.formatapplication/pdf
dc.identifier.issn2462-8107
dc.identifier.issn1657-4289
dc.identifier.urihttp://hdl.handle.net/10784/15597
dc.language.isospa
dc.publisherUniversidad EAFITspa
dc.relation.ispartofEcos de Economía, Vol 7, No 17 (2003)
dc.relation.isversionofhttp://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/1996/2002
dc.relation.urihttp://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/1996/2002
dc.rightsCopyright (c) 2003 Gisela P. Zapataeng
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.rights.localAcceso abiertospa
dc.sourceinstname:Universidad EAFIT
dc.sourcereponame:Repositorio Institucional Universidad EAFIT
dc.sourceEcos de Economía, Vol 7, No 17 (2003)spa
dc.titleEmpirical model of the behavior of the income velocity of money in Colombia, 1982 – 2001eng
dc.typearticleeng
dc.typeinfo:eu-repo/semantics/articleeng
dc.typepublishedVersioneng
dc.typeinfo:eu-repo/semantics/publishedVersioneng
dc.type.localArtículospa

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