MONETARY POLICY AND PRICE LEVEL STABILITY

Author(s): CONSTANTIN LAPADAT
Journal: Analysis and Metaphysics
ISSN: 1584-0778
Year: 2005
Volume: 4
Issue: 2
Full text: http://www.denbridgepress.com/am_abstract.php?a=52
Publisher: Denbridge Press - New York
Abstract: Jevons writes that since money has to be exchanged for valuable goods, it should itself possess value, and it must therefore have utility as the basis of value. The monetarists place the emphasis on the level of the money supply in the determination of price level changes and monetary control is exercised.