Is Money Irrelevant?

Gerald P. Jr. Dwyer · Rik W. Hafer

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Monetary Policy and Economic Impact Economic Theory and Policy Economic theories and models

Abstract

Gerald P. Dwyer, Jr. and R. W. Hafer examine whether the stock of money in the economy is largely irrelevant for the future path of important macroeconomic measures, such as inflation, income and real output.

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References

1911The Purchasing Power of Money.1986Adaptive Behavior and Economic Theory 20124 Two Illustrations of the Quantity Theory of Money 1917The Value of Money 1968The Role of Money and Monetary Policy 1985Equilibrium Relationships between Money and Other Economic Variables 1973Secular Price Change in Historical Perspective

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