12,683 research outputs found
Using Equity Markets to Teach Long-Run Monetary Neutrality
This paper outlines a process for teaching long-run neutrality of money, drawing an analogy between equity markets and the money market. The key points in the discussion include the following: (1) What is the price of money? (2) Why does the long-run demand for money trace out a rectangular hyperbola? (3) Why does the slow adjustment of goods and service prices to changes in the supply of money lead to a different short-run demand for money? and (4) Why does a successful currency reform generate similar short-run movements in the price of money as movements in equity share prices after a change in the supply of shares? I have used this approach successfully for over 30 years at all levels, wherever I need to discuss the money market in a macroeconomic model.
THE RESPONSE OF FUTURES PRICES TO NEW MARKET INFORMATION: THE CASE OF LIVE HOGS
Demand and Price Analysis,
LEAD-LAG RELATIONSHIPS BETWEEN PORK PRICES AT THE RETAIL, WHOLESALE, AND FARM LEVELS
Livestock Production/Industries,
- …