Since 2014
The quantity theory of money. A comment
PSL Quarterly Review
View Archive Info| Field | Value | |
| Title |
The quantity theory of money. A comment
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| Creator |
MASERA, R.S.
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| Subject |
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Quantity theory, nominal stock, money, demand, supply, monetary policy B22, E41, E51, E52 |
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| Description |
In this brief note, the author criticises A.K. Kelly’s A Critical Note on the Quantity Theory of Money. The author contends that while there are certainly sound arguments supporting the view that the nominal stock of money is partly dependent on the endogenous behaviour of the economic system, this fact does not preclude the existence of two separate supply and demand functions, although it does raise the question of whether the single -equation approach to the estimation of the demand-for-money function is in fact warranted. Moreover, Kelly’s position that it is impossible for the suppliers of money to create “excess” monetary balances does not withstand scrutiny.
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| Publisher |
Economia civile
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| Contributor |
—
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| Date |
2014-10-02
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — |
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| Format |
application/pdf
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| Identifier |
http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/12880
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| Source |
PSL Quarterly Review; Vol 24, No 99 (1971)
PSL Quarterly Review; Vol 24, No 99 (1971) 2037-3643 ISSN 2037-3635 |
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| Language |
eng
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| Relation |
http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/12880/12683
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| Rights |
Copyright (c) 2016 R.S. MASERA
http://creativecommons.org/licenses/by-nc-nd/4.0 |
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