References in periodicals archive ?
First, the classical economists, who never explicitly formulated a demand for money theory, stressed on 'transactions velocity of circulation of money' in the Fisher's (1911) Quantity theory of money and equation of exchange i.e.
The famous Scottish Economist Adam Smith (Wealth of Nation, 1976) and empiricist philosopher David Hume (1711-1776) were the ones who proposed a quantity theory of inflation for money, and a quality theory of inflation for production.
This implies that an equally wide range of price levels will equate the supply and demand for money, and the quantity theory no longer predicts the price level, within this range.
Amin SB (2011) Quantity theory of money and its applicability: the case of Bangladesh.
Following the quantity theory of money, central banks accumulated foreign currency reserves in order to sterilise excess liquidity caused by foreign currency imports.
(12.) A classical proponent of the quantity theory was Irving Fisher, The Purchasing Power of Money (New York: The Macmillan Company, 1911).
More importantly, however, the notions of "monopoly," and perfect competition as well as the causal relationship between market structure and market outcomes is an extension of the neoclassical quantity theory of competition.
Simpson further adopts a simple monetarist, quantity theory of money approach to inflation.
On the other hand, the strong identification of Ricardo with the Bullion Report has traditionally placed Ricardo firmly within the quantity theory tradition.
This article examines the basis for the original concerns about inflation in terms of the classic quantity theory of money, which holds that inflation occurs when the money supply expands more rapidly than warranted by increases in real production.
This argument is closely related to the quantity theory of money.
Rather than a quantity theory of money, we need a disaggregated quantity theory of credit.