Empirical Evidence for the Quantity Theory of Money: Romania – A Case Study

Autor: Alexandru Pătruţi, Alina Tătulescu
Jazyk: angličtina
Rok vydání: 2013
Předmět:
Zdroj: Revista Română de Statistică, Vol 61, Iss 11, Pp 12-19 (2013)
Druh dokumentu: article
ISSN: 1844-7694
Popis: The quantity theory of money is one of the most important theoretical propositions in monetary economic theory. However, in recent days more and more economists contest its validity. In this article we will attempt to offer additional empirical support for the quantity theory of money. We argue that the variation in the consumer price index (CPI) in Romania in the last six years can be fully explained by the variation in the supply of money.
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