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References (4)
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J. Keynes, I. Fisher, H. Brown (1911)
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Gary Gorton, Andrew Metrick (2010)
Regulating the Shadow Banking SystemBrookings Papers on Economic Activity, 2010
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R. Werner (2011)
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T. Sargent, Paolo Surico (2011)
Two Illustrations of the Quantity Theory of Money: Breakdowns and RevivalsThe American Economic Review, 101
- Publisher
- Palgrave Macmillan UK
- Copyright
- © Palgrave Macmillan, a division of Macmillan Publishers Limited 2014
- ISBN
- 978-1-349-46944-4
- Pages
- 13 –21
- DOI
- 10.1057/9781137352989_2
- Publisher site
- See Chapter on Publisher Site
Abstract
[This chapter aims at illustrating the basic quantity theory of money, recalling its breakdown and reviewing a few papers that try to explain what happened and suggesting (partial) fixes for this breakdoivn. it then puts fonvard a complementary theory. Empirical evidence could be constructed by using fjow-of-fund statistics that give a comprehensive picture of how liquidity travels in the whole economy (Winkler, 2010). The work is painted with a very broad brush; interested readers should go directly to the papers quoted for the original, detailed arguments.]
Published: Dec 4, 2015
Keywords: Monetary Policy; Money Demand; Quantity Theory; Sovereign Wealth Fund; Credit Card Debt