Controllo quantitativo del credito: alcune considerazioni generali.
In this brief note, the author criticises A.K. Kelly’s A Critical Note on the Quantity Theory of Money. The author contends that while there are certainly sound arguments supporting the view that the nominal stock of money is partly dependent on the endogenous behaviour of the economic system, this...
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| Format: | Article |
| Language: | Italian |
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Associazione Economia civile
2014-08-01
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| Series: | Moneta e Credito |
| Subjects: | |
| Online Access: | https://rosa.uniroma1.it/rosa04/moneta_e_credito/article/view/12571 |
| _version_ | 1811172790624059392 |
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| author | R.S. MASERA |
| author_facet | R.S. MASERA |
| author_sort | R.S. MASERA |
| collection | DOAJ |
| description | In this brief note, the author criticises A.K. Kelly’s A Critical Note on the Quantity Theory of Money. The author contends that while there are certainly sound arguments supporting the view that the nominal stock of money is partly dependent on the endogenous behaviour of the economic system, this fact does not preclude the existence of two separate supply and demand functions, although it does raise the question of whether the single -equation approach to the estimation of the demand-for-money function is in fact warranted. Moreover, Kelly’s position that it is impossible for the suppliers of money to create “excess” monetary balances does not withstand scrutiny.
JEL: B22, E41, E51, E52
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| first_indexed | 2024-04-10T17:36:15Z |
| format | Article |
| id | doaj.art-eebccdc9d1074608b607f80694a46fdb |
| institution | Directory Open Access Journal |
| issn | 2037-3651 |
| language | Italian |
| last_indexed | 2024-04-10T17:36:15Z |
| publishDate | 2014-08-01 |
| publisher | Associazione Economia civile |
| record_format | Article |
| series | Moneta e Credito |
| spelling | doaj.art-eebccdc9d1074608b607f80694a46fdb2023-02-03T16:38:13ZitaAssociazione Economia civileMoneta e Credito2037-36512014-08-01249610.13133/2037-3651/12571Controllo quantitativo del credito: alcune considerazioni generali.R.S. MASERAIn this brief note, the author criticises A.K. Kelly’s A Critical Note on the Quantity Theory of Money. The author contends that while there are certainly sound arguments supporting the view that the nominal stock of money is partly dependent on the endogenous behaviour of the economic system, this fact does not preclude the existence of two separate supply and demand functions, although it does raise the question of whether the single -equation approach to the estimation of the demand-for-money function is in fact warranted. Moreover, Kelly’s position that it is impossible for the suppliers of money to create “excess” monetary balances does not withstand scrutiny. JEL: B22, E41, E51, E52 https://rosa.uniroma1.it/rosa04/moneta_e_credito/article/view/12571Quantity theorynominal stockmoneydemandsupplymonetary policy |
| spellingShingle | R.S. MASERA Controllo quantitativo del credito: alcune considerazioni generali. Moneta e Credito Quantity theory nominal stock money demand supply monetary policy |
| title | Controllo quantitativo del credito: alcune considerazioni generali. |
| title_full | Controllo quantitativo del credito: alcune considerazioni generali. |
| title_fullStr | Controllo quantitativo del credito: alcune considerazioni generali. |
| title_full_unstemmed | Controllo quantitativo del credito: alcune considerazioni generali. |
| title_short | Controllo quantitativo del credito: alcune considerazioni generali. |
| title_sort | controllo quantitativo del credito alcune considerazioni generali |
| topic | Quantity theory nominal stock money demand supply monetary policy |
| url | https://rosa.uniroma1.it/rosa04/moneta_e_credito/article/view/12571 |
| work_keys_str_mv | AT rsmasera controlloquantitativodelcreditoalcuneconsiderazionigenerali |