Malliaris, A G; Malliaris, Mary E - In: Review of Quantitative Finance and Accounting 5 (1995) 1, pp. 93-103
This paper presents a decomposition of inflation and its volatility. According to the traditional quantity theory of money, the rate of inflation is decomposed into three components: the rate of change in the money supply, plus the rate of change in the velocity of circulation, minus the rate of...