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Money Growth, Output Growth, and Inflation: A Reexamination of the Modern Quantity Theory's Linchpin Prediction

Brumm, Harold J. - In: Southern Economic Journal 71 (2005) 3, pp. 661-667

A testable implication of the modern quantity theory of money, when viewed as a theory of inflation, is the joint hypothesis that (i) there is a one-to-one positive relationship between inflation and the money stock growth rate, (ii) there is a one-to-one negative relationship between inflation...

Persistent link: https://www.econbiz.de/10005562081