Stock Prices and Money Velocity: A Multi-Country Analysis.

What kind of information do stock prices offer for predicting velocity? This paper develops previous work by Milton Friedman for the US economy and shows that a wealth effect derived from the stock market has negatively influenced the ratio of nominal income to a broad definition of money in a panel of 25 countries.

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Year of publication:	1996
Authors:	Caruso, M.
Institutions:	Banca d'Italia
Subject:	STOCK MARKET \| PRICES \| MONEY \| FINANCIAL MARKET

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Series:	Banca Italia - Servizio di Studi.
Type of publication:	Book / Working Paper
Notes:	63 pages
Classification:	E40 - Money and Interest Rates. General ; G10 - General Financial Markets. General ; G12 - Asset Pricing ; G19 - General Financial Markets. Other
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005780692