Journal Article
Has the long-run velocity of M2 shifted? Evidence from the P* model
Abstract: An examination of one of the P-Star model's primary assumptions: the constancy of M2's long-run velocity, or V-Star. Using actual data through the end of 1992, the authors find that simulations of the model under a variety of hypotheses regarding changes in V-Star provide little support for a dramatic shift in that measure.
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https://fraser.stlouisfed.org/title/economic-review-federal-reserve-bank-cleveland-1328/1993-quarter-1-4147?page=15
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Review
Publication Date: 1993
Volume: 29
Issue: Q I
Pages: 14-26