Velocity and the Variability of Money Growth: Some International Evidence
Format of Original
Using data from four countries, the paper tests Friedman's hypothesis that the volatility of money growth causes velocity to change. Despite a wide variety of patterns in the movements of velocity in these countries, support is evident for the hypothesis.
Chowdhury, Abdur, "Velocity and the Variability of Money Growth: Some International Evidence" (1988). Economics Faculty Research and Publications. 347.