Search Results - subject:"quantity theory"

Money and Inflation : Some Critical Issues

McCallum, Bennett T. - 2011

aggregates at all. We begin by considering the body of thought known as the "quantity theory of money." The quantity theory … the nominal money stock. The nominal homogeneity conditions that deliver the quantity-theory result are the same as those … that deliver monetary neutrality, an important principle behind policy formulation. The quantity theory implies a ceteris …

Persistent link: https://www.econbiz.de/10013118439

Money and Prices in Colonial America : a New Test of Competing Theories

McCallum, Bennett T. - 2011

paper currency. According to the "quantity theory" or classical hypothesis, total money stock magnitudes did not rise …

Persistent link: https://www.econbiz.de/10013127792

The quantity theory revisited : a new structural approach

El-Shagi, Makram; Giesen, Sebastian; Kelly, Logan J. - 2011

reputable index number, the quantity theory holds for the United States. -- Divisia money ; state space decomposition ; sign …

Persistent link: https://www.econbiz.de/10009126518

How to Fight Deflation in a Liquidity Trap; Committing to Being Irresponsible

Eggertsson, Gauti B. - International Monetary Fund (IMF) - 2003

I model deflation, at zero nominal interest rate, in a microfounded general equilibrium model. I show that deflation can be analyzed as a credibility problem if the government has only one policy instrument, money supply carried out by means of open market operations in short-term bonds, and...

Persistent link: https://www.econbiz.de/10005599394

Determinants of Deflation in Hong Kong SAR

Papa M'B. P. N'Diaye - International Monetary Fund (IMF) - 2003

This paper presents a comprehensive econometric analysis of the determinants of deflation in Hong Kong SAR. The analysis helps to determine the relative contributions of factors such as increased productivity, scarce money supply, and excess capacity in determining deflation. The main conclusion...

Persistent link: https://www.econbiz.de/10005248268

The ECB'S Money Pillar; An Assessment

Jaeger, Albert - International Monetary Fund (IMF) - 2003

This paper discusses the case for a money pillar in the European Central Bank's (ECB) monetary policy strategy. Time-series evidence for industrial countries based on frequency-domain and unobserved-components analysis suggests that money can play a useful role in gauging and constraining...

Persistent link: https://www.econbiz.de/10005264049

Overshooting and Dollarization in the Democratic Republic of the Congo

Beaugrand, Philippe - International Monetary Fund (IMF) - 2003

The paper develops an interpretation of volatile exchange rate movements in a dollarized economy with very high rates of inflation. Differences between the rate of inflation and currency depreciation (over- or undershooting of the exchange rate) are seen as a proxy for changes in the relative...

Persistent link: https://www.econbiz.de/10005264134

Money Multiplier and Velocity Playing for Money Neutrality

Andrei, Liviu - 2016

Quantitative theory of money appears as having the most to say about the today money - e.g. this is a genuinely and largely developed and even developing theory of economics, a theory searching for relating the money base to real economy (i.e. national product or income) plus it verifies, as its...

Persistent link: https://www.econbiz.de/10013005837

Is there causal relationship between money supply growth and inflation in China? : evidence from quantity theory of money

Su, Chi-Wei; Fan, Jiao-Jiao; Chang, Hsu-Ling; Li, Xiao-Lin - In: Review of development economics 20 (2016) 3, pp. 702-719

Persistent link: https://www.econbiz.de/10011545875

Colonial American paper money and the quantity theory of money : an extension

Grubb, Farley Ward - 2016

Persistent link: https://www.econbiz.de/10011476537