Reference no: EM131199057
(i) Discuss the statements: "The quantity theory and the quantity equation are one and the same in the sense that each implies the other." "The quantity theory assumes the constancy of velocity."
(ii) Compare the approaches of Fisher's transactions and Pigou's cash balances to the quantity theory. Are there any similarities between them? If so, in which respects? Or should they be treated as different approaches altogether?
(iii) Given Pago's elucidation of his two "provisions" for holding money, was Keynes's exposition of his three "motives" a revolutionary change or merely an extension of the money demand analysis to an economy in which the bond and stock markets were becoming increasingly visible and significant for the macro economy? Discuss.
(iv) Compare the contributions of Pig-out, Keynes and Friedman on the interest elasticity of the demand for money.
(v) Discuss the following statement: Wick sell's analysis of the pure credit economy belongs in the Keynesian rather than the quantity theory tradition, so that Wick sell's analysis should be taken as the precursor of Keynesianism in monetary economics.
(vi) Discuss the following statement: Friedman's analysis of the demand for money belongs in the Keynesian rather than the quantity theory tradition, so that his analysis should be taken as a statement of, or slight modification to, Keynesian ideas in monetary economics.
(vii) Can overall money demand be legitimately separated into three additive components according to Keynes's motives for holding money? If not, what is the justification for doing so?
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Are there any similarities between them
: Can overall money demand be legitimately separated into three additive components according to Keynes's motives for holding money? If not, what is the justification for doing so?
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