“Money matters”, but: “What really matters is the quantity of money.” These two expressions from the monetarists' academic work were very popular in the early 70's. In this paper, I argue that what really matters is the “quality” of money

In 1990 the government began to completely overhaul the organization of the Argentine economy. It included (a) comprehensive liberalization of foreign trade and capital movements, (b) the privatization of public enterprises and the deregulation of the economy, (c) reduction of the bureaucratic...