Garvy, George
New York : Federal Reserve bank, 1959
Abstract: This monograph is one of a series published by the Federal Reserve Bank of New York in order to furnish the student of money and banking with Information, not readily available elsewhere, concerning monetary policies, institutions, and techniques. The present booklet discusses thè behavior of deposit velocity, over the business cycle and over longer periods, with emphasis on the institutional and structural forces determining this behavior. Further discussion of the underlying statisti ...; [Read more...]
This monograph is one of a series published by the Federal Reserve Bank of New York in order to furnish the student of money and banking with Information, not readily available elsewhere, concerning monetary policies, institutions, and techniques. The present booklet discusses thè behavior of deposit velocity, over the business cycle and over longer periods, with emphasis on the institutional and structural forces determining this behavior. Further discussion of the underlying statistica! series and of some related subjects may be found in Mr. Garvy’s Debits and Clearings Statistics and Their Use, a revised edition of which was published by the Board of Governors of the Federal Reserve System earlier this year. The flow of funds through the economy reflects the rate of turnover of the money supply as well as the size of thè money supply itself. An understanding of the institutional practices and policies which influence the turnover of money is essential to an informed interpretation of the changing credit situation and to an understanding of the monetary framework in which credit policy operates. We are hopeful that this booklet will contribute to such understanding.
