The observed low velocity of circulation of money implies that households hold more money than they normally spend. A natural explanation for this behavior is that households face uncertain expenditure needs, so they have a precautionary motive for holding money. We investigate the precautionary demand for money in a search model where households are subject to preference shocks. The model pred...

The Time Value of Money is a important concept in Financial Management. The Time Value of Money includes the concepts of future value and discounted value or present value. In the present article, the basic notions and illustrate with their application in the field of investment which is presented in the mathematical terms in form of theorems and we also presented the applications of some well ...

In this paper we utilize the main findings from the recent literature to set the economic foundation for the existence of money, its modern interpretation as “memory” (Chokerlakota 1998) and how the Blockchain technology has empowered crypto currencies to perform this role in the information age.  To locate the issue in a historical perspective and in line with this strand of thought, we consid...

this article examines the basic assumption of rational expectations hypothesis on iran's economy from 1966 to 2003. this assumption suggests the neutrality or ineffectiveness of money policy on the development of real variables of production and employment. the results from estimation of production equation do not support the significant influence of unanticipated component of money growth...

This paper uses the concept of discourse i.e. semiotic elements of social practices to define money. It explores a way in which money requires discourse in order to be money. Before proceeding to investigate money, however, the following methodological points need to be considered: 1. Why discourse? 2. What is and what is not discourse? 3. How does discourse work with money? This paper focuses ...

A fascinating subject can make a great book, and money is one of the topics that have captured the public mind and the intellectual interest of philosophers and scientists alike. The recent financial collapse (circa 2008), and particularly its reverberations in the European Union, has energized the debate around money and led to a new wave of publications of books and articles on the subject. T...