Through quantitative easing markets have been flooded with liquidity, but rather than inflation we have witnessed a general deflation because of the liquidity trap environment in which the banking system operated; this article revisits the arguments against the quantity theory in the “Cambridge” tradition of John Maynard Keynes, Richard Kahn, and Nicholas Kaldor, and defends their soundness and topicality.
The “Cambridge” critique of the Quantity Theory of Money. A note of how the Quantitative Easing vindicates it / Marcuzzo, Maria Cristina. - In: JOURNAL OF POST KEYNESIAN ECONOMICS. - ISSN 0160-3477. - STAMPA. - 40:(2017), pp. 260-271. [10.1080/01603477.2017.1286939]
The “Cambridge” critique of the Quantity Theory of Money. A note of how the Quantitative Easing vindicates it
MARCUZZO, Maria Cristina
2017
Abstract
Through quantitative easing markets have been flooded with liquidity, but rather than inflation we have witnessed a general deflation because of the liquidity trap environment in which the banking system operated; this article revisits the arguments against the quantity theory in the “Cambridge” tradition of John Maynard Keynes, Richard Kahn, and Nicholas Kaldor, and defends their soundness and topicality.| File | Dimensione | Formato | |
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