Hillinger, Claude; Süssmuth, Bernd - Volkswirtschaftliche Fakultät, … - 2008
We test the quantity theory of money (QTM) using a novel approach and a large new sample. We do not follow the usual … currently dominant New Keynesian School, implicitly or explicitly denies the validity of the QTM. We survey this history and … argue that the QTM is valid and New Keynesians are wrong. …