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Societies for the History of Economics <[log in to unmask]>
Subject:
Re: SHOE: QUERY--Monetarism and Velocity
From:
Duncan Foley <[log in to unmask]>
Date:
Wed, 18 Nov 2009 15:47:34 -0500
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Societies for the History of Economics <[log in to unmask]>
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It seems to me it is precisely when it comes to monetary policy that
it is very dangerous to think of velocity as constant. Take a look at
the evolution of M1 or M2 and of national income in the U.S. over the
last two years.

Duncan Foley

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