Nunes, Ana BelaSt. Aubyn, MiguelValério, NunoSousa, Rita Martins de2011-01-262011-01-262011Nunes, Ana Bela ... [et al.]. (2011). "The determinants of the behaviour of the income velocity of money in Portugal 1891-1998: an econometric approach". Instituto Superior de Economia e Gestão – GHES Documento de Trabalho/Working Paper nº 45-2011http://hdl.handle.net/10400.5/2872This paper performs a long-run time series analysis of the behaviour of the income velocity of money in Portugal 1891-1998, and assesses the importance of both macroeconomic and institutional factors in shaping its path. We look for particularities of the Portuguese case in the international context. By means of a cointegrated vector autoregression, we find that institutional variables matter. Moreover, regression analysis shows that the general U-shaped pattern is displayed with the inflection point located in 1973, in line with the Spanish case.engVelocity of MoneyPortugalCointegrationInstitutional Determinantsworking paper