Staff Report 582

Karl Brunner's Contributions to the Theory of the Money Supply

Juan Pablo Nicolini | Senior Research Economist

Published April 23, 2019

In this paper, I revisit some recent work on the theory of the money supply, using a theoretical framework that closely follows Karl Brunner'’s work. I argue that had his research proposals been followed by the profession, some of the misunderstandings related to the instability of the money demand relationship could have been avoided.


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