| Summary: | <p class="Default"><span lang="EN-US">After receiving a great deal of attention in the period from the end of the Second World War through the 1960s, in recent times the role of the velocity of the circulation of money (V) has been largely neglected. Recent studies seem in large part to be influenced by the original Fisherian preoccupation with demonstrating the stability of V, or at least its limited variability. The present analysis seeks to identify some autonomous reasons that can explain short-term variations of V, and shift the attention from money stocks to money flows.</span></p><p class="Default"><span lang="EN-US"><br /></span></p><p class="Default">JEL: E40</p>
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