Studies in the Quantity Theory of Money

Studies in the Quantity Theory of Money

English | 1956 | ISBN: 0226264068 | 265 Pages | PDF | 9.6 MB

This work provides a systematic statement of the theoretical position of the Chicago school on monetary economics. Milton Friedman restates the quantity theory of money and discusses the significance of its revival after a period of eclipse by the Keynesian view. Four empirical studies by Phillip Cogan, John J. Klein, Eugene M. Lerner, and Richard T. Selden are provided in support of the theory.

The four studies…of inflation during and after the world wars and in the U.S. over the past century…show a striking regularity in economic response to monetary change. They will be of particular interest to monetary theorists, to empirical investigators in this area, and to economic historians and theorists generally.

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