Empirical model of the behavior of the income velocity of money in Colombia, 1982 – 2001
dc.citation.epage | 92 | |
dc.citation.issue | 17 | |
dc.citation.journalAbbreviatedTitle | Ecos de Economía | eng |
dc.citation.journalTitle | Ecos de Economia: A Latin American journal of applied economics | eng |
dc.citation.spage | 79 | |
dc.citation.volume | 7 | |
dc.contributor.affiliation | North Carolina State University | spa |
dc.contributor.author | Zapata, Gisela P. | spa |
dc.coverage.spatial | Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees | eng |
dc.date | 15/10/2003 | |
dc.date.accessioned | 2020-01-31T18:44:03Z | |
dc.date.available | 2020-01-31T18:44:03Z | |
dc.date.issued | 15/10/2003 | |
dc.description | The 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.format | application/pdf | |
dc.identifier.issn | 2462-8107 | |
dc.identifier.issn | 1657-4289 | |
dc.identifier.uri | http://hdl.handle.net/10784/15597 | |
dc.language.iso | spa | |
dc.publisher | Universidad EAFIT | spa |
dc.relation.ispartof | Ecos de Economía, Vol 7, No 17 (2003) | |
dc.relation.isversionof | http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/1996/2002 | |
dc.relation.uri | http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/1996/2002 | |
dc.rights | Copyright (c) 2003 Gisela P. Zapata | eng |
dc.rights.accessrights | info:eu-repo/semantics/openAccess | eng |
dc.rights.local | Acceso abierto | spa |
dc.source | instname:Universidad EAFIT | |
dc.source | reponame:Repositorio Institucional Universidad EAFIT | |
dc.source | Ecos de Economía, Vol 7, No 17 (2003) | spa |
dc.title | Empirical model of the behavior of the income velocity of money in Colombia, 1982 – 2001 | eng |
dc.type | article | eng |
dc.type | info:eu-repo/semantics/article | eng |
dc.type | publishedVersion | eng |
dc.type | info:eu-repo/semantics/publishedVersion | eng |
dc.type.local | Artículo | spa |
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