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

Staff Report 582 | Published April 23, 2019

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

Abstract

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.