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.

Keywords: Transaction services; Means of payment; Money multiplier;

JEL Classification: E51; E58;

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Bibliographic Information

Provider: Federal Reserve Bank of Minneapolis

Part of Series: Staff Report

Publication Date: 2019-04-23

Number: 582

Pages: 24 pages