The Enigma of the Velocity Decline

  • Richard A. Werner


We now turn to what may be the single most disturbing enigma. Once again it not only concerns Japan, but has arisen in many countries and many time periods around the world. It is disturbing for economics as a theory and for economists as applied social scientists.


Interest Rate Monetary Policy Fiscal Policy Money Supply Perfect Information 
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© Richard A. Werner 2005

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  • Richard A. Werner

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