Monetary Policy and Inflation - Quantity Theory of Money

This book builds upon a long-accepted tradition of quantity theory of money in explaining long run inflation levels. It elucidates how and why - despite its important limitations - the theory can be applied throughout history, including the 2022 spikes in inflation.

List of contents

1. 1. Instead of an introduction. BIS report: Welcome to 2023, inflation depends on money supply 2. Formalized quantity theory of money and Milton Friedman's monetary program 3. The most important studies in the quantity theory of money research in the last 40 years 4. Conventional monetary policy and the rationale for the absence of money supply in its rules 5. Active monetary policy after 2008 and the inadequacy of the money multiplier model 6. Active monetary policy during the 2020 pandemic 7. Conclusions

About the author

Mateusz Machaj is a Researcher at the University of New York in Prague and an Associate Professor at the Institute of Economic Sciences, University of Wroclaw, Poland.

Product details

• Authors: Mateusz Machaj
• Publisher: Taylor & Francis Ltd.
• Languages: English
• Product format: Paperback / Softback
• Release: 27.06.2025
• EAN: 9781032558509
• ISBN: 978-1-0-3255850-9
• No. of pages: 62
• Series: Routledge Focus on Economics and Finance
• Subjects: Social sciences, law, business > Business > Economics; Business & Economics / General, BUSINESS & ECONOMICS / Economics / General, BUSINESS & ECONOMICS / Money & Monetary Policy, BUSINESS & ECONOMICS / Economics / Theory, Economic theory & philosophy, International Economics, Political Economy, Monetary Economics, Economics of industrial organisation, International Finance, BUSINESS & ECONOMICS / International / Economics & Trade, Economic theory and philosophy, Economics of industrial organization