This article investigates whether the quantity theory of money is still alive. We demonstrate three insights. First, for countries with low inflation, the raw relationship between average inflation ...

In his letter (Jan. 18) responding to our op-ed “How Japan Kept Inflation Rates Low” (Jan. 10), Richard Katz incorrectly employs a quote from a 2003 newspaper interview with Milton Friedman. Over ...

Dan Thornton, a former St. Louis Federal Reserve official, claims that there is no empirical evidence linking changes in the money supply to changes in inflation (Letters, July 22). He then takes us ...

It’s been decades since I last played Monopoly, but the board game comes to mind when contemplating the commentary of the members of the Monetarist School. Consider the play money that comes with the ...