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Abstract

This article suggests a possible approach to the explanation of the monetarist money demand theory and the related policy implications in the teaching of History of economic thought. For the purpose of better understanding Milton Friedman’s contribution the emphasis is put on the conceptual development from the classical quantity theory of money, through the Cambridge cash-balance approach, Walras’ „encaisse désirée-, Keynes’ liquidity preference to the monetarist restatement of the quantity theory of money and its implications for other key economic problems like the causes of inflation and the methods for reducing the unemployment. The discussion is introduced with a short note on Friedman’s life and work and concludes with an analysis of the inferences and recommendations for the economic policy derived from the theoretical arguments.



Item Type: MPRA Paper -

Original Title: Монетаристко развитие на теорията на търсенето на пари-

English Title: Monetarist development of the money demand theory-

Language: Bulgarian-

Keywords: Monetarism, Friedman, Keynes, quantity theory of money, money demand, permanent income hypothesis, theory of nominal income, liquidity preference, Cambridge cash-balance approach-

Subjects: A - General Economics and Teaching > A2 - Economic Education and Teaching of EconomicsB - History of Economic Thought, Methodology, and Heterodox Approaches > B2 - History of Economic Thought since 1925 > B22 - MacroeconomicsB - History of Economic Thought, Methodology, and Heterodox Approaches > B3 - History of Economic Thought: IndividualsB - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic MethodologyE - Macroeconomics and Monetary Economics > E4 - Money and Interest Rates > E41 - Demand for MoneyE - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E51 - Money Supply ; Credit ; Money Multipliers-





Autor: Sedlarski, Teodor

Fuente: https://mpra.ub.uni-muenchen.de/56694/



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