search query: @journal_id 1496 / total: 65
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| Author: | Zheng, Yaodong |
| Title: | On the money circulation velocity effect of inflation (original in Chinese) |
| Journal: | Social Sciences in China (c)
1998 : 3, p.18-29 |
| Index terms: | MONEY SUPPLY MONETARY ECONOMICS INFLATION MONETARY POLICY |
| Language: | chn |
| Abstract: | Usually when inflation intensifies, the velocity of money circulation is speeded up. The undue money supply would not only cause sustained inflation but speed up the velocity of money circulation, which will worsen the inflation. The money circulation velocity effect has two kinds of speeding-up effect, absolute one and relative one. The international comparison and China example show that the sustained absolute speeding-up effect which V0, V1 and V2 present at the same time will lead to spiral or galloping inflation. A stable positive correlation relationship exist between inflation rate and all of V0, V1 and V2. The change in the velocity of money circulation is corresponding to a money supply equivalent, which should be considered when monetary policy is formulated. |
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