The elasticity of prices with respect to monetary components: Some estimates for the UK 1948-1979

M. J. Driscoll; J. L. Ford; A. W. Mullineux

doi:10.1080/00036848500000008

The elasticity of prices with respect to monetary components: Some estimates for the UK 1948-1979

M. J. Driscoll, J. L. Ford, A. W. Mullineux

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Abstract

This paper reports estimates of the elasticity of various monetary components in the UK by assessing their ability to explain prices. Tests of the Monetarist proposition, that a unit change in a (weighted) monetary aggregate might lead to a unit change in the price level in the long run, and of the appropriateness of the current practice of constructing monetary aggregates by the simple summation of monetary components, are also performed.

Original language	English
Pages (from-to)	95-106
Number of pages	12
Journal	Applied Economics
Volume	17
Issue number	1
DOIs	https://doi.org/10.1080/00036848500000008
Publication status	Published - 1 Jan 1985

ASJC Scopus subject areas

Economics and Econometrics

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abstract = "This paper reports estimates of the elasticity of various monetary components in the UK by assessing their ability to explain prices. Tests of the Monetarist proposition, that a unit change in a (weighted) monetary aggregate might lead to a unit change in the price level in the long run, and of the appropriateness of the current practice of constructing monetary aggregates by the simple summation of monetary components, are also performed.",

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AB - This paper reports estimates of the elasticity of various monetary components in the UK by assessing their ability to explain prices. Tests of the Monetarist proposition, that a unit change in a (weighted) monetary aggregate might lead to a unit change in the price level in the long run, and of the appropriateness of the current practice of constructing monetary aggregates by the simple summation of monetary components, are also performed.

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The elasticity of prices with respect to monetary components: Some estimates for the UK 1948-1979

Abstract

ASJC Scopus subject areas

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