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We test the quantity theory of money (QTM) using a novel approach and a large new sample. We do not follow the usual …
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The paper reconstructs the origins of the quantity theory of money and its applications. Against the background of the … history of money, it is shown that the theory was flexible enough to adapt to institutional change and thus succeeded in … on a panel data set covering more than hundred countries from 1991 to the present confirms that the theory still holds: a …
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