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A Flow-of-Funds Perspective on the Financial CrisisThe Quantity Theory of Money Revisited

A Flow-of-Funds Perspective on the Financial Crisis: The Quantity Theory of Money Revisited [This chapter aims at illustrating the basic quantity theory of money, recalling its breakdown and reviewing a few papers that try to explain what happened and suggesting (partial) fixes for this breakdoivn. it then puts fonvard a complementary theory. Empirical evidence could be constructed by using fjow-of-fund statistics that give a comprehensive picture of how liquidity travels in the whole economy (Winkler, 2010). The work is painted with a very broad brush; interested readers should go directly to the papers quoted for the original, detailed arguments.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Flow-of-Funds Perspective on the Financial CrisisThe Quantity Theory of Money Revisited

Part of the Palgrave Studies in Econmics and Banking Book Series
Editors: Winkler, Bernhard; Riet, Ad van; Bull, Peter
Salleo, Carmelo
A Flow-of-Funds Perspective on the Financial Crisis — Dec 4, 2015
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Publisher
Palgrave Macmillan UK
Copyright
© Palgrave Macmillan, a division of Macmillan Publishers Limited 2014
ISBN
978-1-349-46944-4
Pages
13 –21
DOI
10.1057/9781137352989_2
Publisher site
See Chapter on Publisher Site

Abstract

[This chapter aims at illustrating the basic quantity theory of money, recalling its breakdown and reviewing a few papers that try to explain what happened and suggesting (partial) fixes for this breakdoivn. it then puts fonvard a complementary theory. Empirical evidence could be constructed by using fjow-of-fund statistics that give a comprehensive picture of how liquidity travels in the whole economy (Winkler, 2010). The work is painted with a very broad brush; interested readers should go directly to the papers quoted for the original, detailed arguments.]

Published: Dec 4, 2015

Keywords: Monetary Policy; Money Demand; Quantity Theory; Sovereign Wealth Fund; Credit Card Debt

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