about the Quantity Theory of Money, but he hesitated to probe too deeply into the political and ideological elements of its … history, perhaps leading him to underestimate their importance for the theory's evolution. -- money ; Quantity theory ; value … theory ; positive economics ; empiricism ; formalism ; bimetallism ; gold standard ; monetarism …

theoretic approach to monetary policy. Leading theorists and practitioners of this view have indeed rejected the quantity theory … of money, and defended a return to the old Wicksellian idea of eliminating high levels of inflation by adjusting nominal … interest rates to changes in the price level. This paper evaluates these recent developments in the theory and practice of …