On the Sluggish Response of Prices to Money in an Inventory-Theoretic Model of Money Demand
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We exposit the link between money, velocity and prices in an inventory-theoretic model of the demand for money and explore the extent to which such a model can account for the short-run volatility of velocity, the negative correlation of velocity and the ratio of money to consumption, and the
我们在货币需求的库存理论模型（inventory-theoretic model）中阐述了货币、流通速度与价格之间的联系，并探讨该模型在多大程度上能够解释流通速度的短期波动性、流通速度与货币消费比之间的负相关性，以及
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美国国家经济研究局创建时间：
2003-10-01
