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Only Paul Could Go To Changchun

Money Demand and the Quantity Theory

7/8/2015

 
"Thus, these episodes come close to being controlled, laboratory experiments in which the independent variable, money growth, is deliberately manipulated holding all else constant and the dependent variable, inflation, responds as predicted by the theory."

Peter N. Ireland

http://irelandp.com/papers/crcsmdqt.pdf


In 2015 this comment was published in the Journal of Monetary Economics here:

http://www.sciencedirect.com/science/article/pii/S0304393215000434

Hmm... Maybe create an actual "controlled, laboratory experiment"?? 



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