|
gptkbp:instanceOf
|
gptkb:economic_policy
|
|
gptkbp:alternativeTo
|
MV = PY
|
|
gptkbp:associatedWith
|
gptkb:Milton_Friedman
gptkb:Irving_Fisher
monetarism
classical economists
|
|
gptkbp:assumes
|
output is at full employment in the long run
velocity of money is stable
|
|
gptkbp:contrastsWith
|
gptkb:Keynesian_theory_of_money
|
|
gptkbp:criticizedFor
|
Keynesian economists
|
|
gptkbp:describes
|
relationship between money supply and price level
|
|
gptkbp:field
|
economics
monetary economics
|
|
gptkbp:formulatedAs
|
MV = PT
|
|
gptkbp:historicalName
|
16th century
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
Quantity theory of money
|
|
gptkbp:implies
|
inflation is caused by excessive money supply
|
|
gptkbp:influenced
|
gptkb:economic_policy
|
|
gptkbp:influencedBy
|
gptkb:David_Hume
gptkb:John_Locke
gptkb:Jean_Bodin
|
|
gptkbp:PP
|
price level
|
|
gptkbp:proposedBy
|
changes in money supply have direct effect on price level
|
|
gptkbp:PY
|
nominal GDP
|
|
gptkbp:relatedTo
|
gptkb:Fisher_equation
gptkb:Cambridge_cash-balance_approach
|
|
gptkbp:TDP
|
volume of transactions
|
|
gptkbp:usedIn
|
analysis of hyperinflation
|
|
gptkbp:via
|
velocity of money
|
|
gptkbp:מטה
|
money supply
|
|
gptkbp:bfsParent
|
gptkb:Irving_Norton_Fisher
|
|
gptkbp:bfsLayer
|
6
|