|
gptkbp:instanceOf
|
gptkb:economic_policy
|
|
gptkbp:assumes
|
real output is independent of money supply in the long run
velocity of money is constant
|
|
gptkbp:contrastsWith
|
gptkb:Keynesian_theory_of_money
|
|
gptkbp:criticizedFor
|
gptkb:Keynesian_economics
|
|
gptkbp:developedBy
|
gptkb:David_Hume
gptkb:John_Locke
gptkb:Milton_Friedman
gptkb:Irving_Fisher
|
|
gptkbp:field
|
macroeconomics
|
|
gptkbp:form
|
MV = PY
|
|
gptkbp:hasConcept
|
increase in money supply leads to proportional increase in price level
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
Quantity Theory of Money
|
|
gptkbp:influenced
|
monetarism
|
|
gptkbp:originatedIn
|
gptkb:Nicolaus_Copernicus
|
|
gptkbp:PP
|
price level
|
|
gptkbp:proposedBy
|
relationship between money supply and price level
|
|
gptkbp:publishedIn
|
gptkb:Irving_Fisher's_The_Purchasing_Power_of_Money_(1911)
|
|
gptkbp:relatedConcept
|
gptkb:Fisher_equation
gptkb:Cambridge_cash-balance_approach
hyperinflation
monetary neutrality
|
|
gptkbp:usedFor
|
explaining inflation
|
|
gptkbp:via
|
velocity of money
|
|
gptkbp:Y
|
real output
|
|
gptkbp:מטה
|
money supply
|
|
gptkbp:bfsParent
|
gptkb:The_Purchasing_Power_of_Money
|
|
gptkbp:bfsLayer
|
6
|