Money Demand Slopes Downward
I suppose I should not have been shocked. Economics is full of obvious truths that sound odd when expressed in an unfamiliar way. Everyone knows that the real demand for money slopes downward, as a function of the nominal interest rates. It’s in all the textbooks. If you raise the opportunity cost of holding base [...] View the full post at: Money Demand Slopes Downward Related posts: 2009 Forecast Part II: Deflation Strikes Back Yeah But this Time I’ve Got the Money! Where to Put Your Money Right Now
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