Of Hume, Thornton, the Quantity Theory, and the Phillips Curve

6 Pages Posted: 24 Aug 2012

See all articles by Thomas M. Humphrey

Thomas M. Humphrey

Federal Reserve Banks - Federal Reserve Bank of Richmond

Date Written: 1982

Abstract

Many economists would agree no doubt that the strict classical quantity theory of money is logically incompatible with the concept of a stable, long-run Philips curve tradeoff between output and inflation.

Suggested Citation

Humphrey, Thomas M., Of Hume, Thornton, the Quantity Theory, and the Phillips Curve (1982). FRB Richmond Economic Review, Vol. 68, No. 6, November/December 1982, pp. 13-18. Available at SSRN: https://ssrn.com/abstract=2120005

Thomas M. Humphrey (Contact Author)

Federal Reserve Banks - Federal Reserve Bank of Richmond ( email )

P.O. Box 27622
Richmond, VA 23261
United States

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