Keynesians argue that financial innovations, such as the introduction of money market deposit accounts at banks, led

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Keynesians argue that financial innovations, such as the introduction of money market deposit accounts at banks, led to a large increase in the demand for M2 in the early 1980s. If this claim is true, how does it help explain the relationship between money growth and inflation that you observe after 1980?

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Macroeconomics

ISBN: 9781292446127

11th Edition

Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore

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