72 Pages
9 B/W Illustrations
by
Routledge
72 Pages
9 B/W Illustrations
by
Routledge
72 Pages
9 B/W Illustrations
by
Routledge
Also available as eBook on:
Recent years have seen a return to high inflation that has sparked debate about the causal role of monetary policy in significant price increases, especially in the context of the quantity theory of money. This book builds upon a long-accepted tradition of quantity theory of money in explaining long-run inflation levels.
It elucidates how and why – despite its important limitations – the theory... Read more
1. 1. Instead of an introduction. BIS report: Welcome to 2023, inflation depends on money supply 2. Formalized quantity theory of money and Milton Friedman's monetary program 3. The most important studies in the quantity theory of money research in the last 40 years 4. Conventional monetary policy and the rationale for the absence of money supply in its rules 5. Active monetary policy after 2008 and the inadequacy of the money multiplier model 6. Active monetary policy during the 2020 pandemic 7. Conclusions
Biography
Mateusz Machaj is a Researcher at the University of New York in Prague and an Associate Professor at the Institute of Economic Sciences, University of Wroclaw, Poland.
