摘要:

In an earlier paper (Tait and Burnell, 1976), evidence showed that in a period when consumer prices were rising an overwhelming proportion of the sample were aware inflation was happening and expected it to continue in the coming 12 months, at least, at the rate of the previous 12 months. In these conditions, they thought it more important to save (in money and near money assets). Despite their awareness that their savings were falling in value, they still thought it more important to save. They did not try to translate their savings into goods as quickly as possible. Their balances were held mainly in banks. The evidence, therefore, supported the real balance effect and the basic postulate of the quantity theory of money, that there is a tendency toward a stable demand function for money in real terms and that people are prepared to accept the cost, through the rate of idation, of holding these real balances.

ISSN:1463-6786    

DOI:10.1111/j.1467-9957.1978.tb00937.x

出版商:Blackwell Publishing Ltd    

年代:1978

数据来源: WILEY

ISSN:1463-6786    

DOI:10.1111/j.1467-9957.1978.tb00938.x

出版商:Blackwell Publishing Ltd    

年代:1978

数据来源: WILEY

摘要:

Since the early 1940s a considerable literature has developed concerned with the interdependence of national incomes between countries, and specifically, since the original contribution of Metzler (1942), with the transfer problem.1This interest springs partly from theoretical and partly from historical concern. On the theoretical plane the transfer problem captures many facets of international economic interdependence and, therefore, highlights the differing implications of alternative macroeconomic theories. On the historical level, the interest in the interdependence of economies (using Metzler's foreign trade multiplier approach) came at a time when the U.S.A. was transferring a large volume of funds to post‐war Europe, and the literature was concerned to examine the effects of such transfer

ISSN:1463-6786    

DOI:10.1111/j.1467-9957.1978.tb00939.x

出版商:Blackwell Publishing Ltd    

年代:1978

数据来源: WILEY