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Federal Reserve Bank of Cleveland
Working Papers (Old Series)
The effects of disinflationary policies on monetary velocity
William T. Gavin
William G. Dewald
Abstract

A study of the effect of disinflation policies on monetary velocity, which shows a systematic relation between unexpected changes in the money-income relationship and changes in the trends of inflation rates, and which concludes that the failure to commit to a stable price policy tends to destabilize the economy.


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William T. Gavin & William G. Dewald, The effects of disinflationary policies on monetary velocity, Federal Reserve Bank of Cleveland, Working Papers (Old Series) 8901, 1989.
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Keywords: Velocity of money ; Inflation (Finance) ; Monetary policy
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