第七章：失业与通货膨胀.pptVIP

* * 通货膨胀的种类 * * 第四节 通货膨胀的原因 The Quantity Theory of Money A simple theory linking the inflation rate to the growth rate of the money supply. Fisher equation：MV=PY With V constant, the money supply determines nominal GDP (P ?Y ) Real GDP is determined by the economy’s supplies of K and L and the production function The price level (GDP deflator) is P = (nominal GDP)/(real GDP) * * The Quantity Theory of Money, cont. The growth rate of a product equals the sum of the growth rates. The quantity equation in growth rates: * * The Quantity Theory of Money, cont. Let ? deno