<oai_dc:dc xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:oai_dc="http://www.openarchives.org/OAI/2.0/oai_dc/" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.openarchives.org/OAI/2.0/oai_dc/ http://www.openarchives.org/OAI/2.0/oai_dc.xsd">
  <dc:creator>Beretta, Edoardo</dc:creator>
  <dc:creator>Neuberger, Doris</dc:creator>
  <dc:date>2023</dc:date>
  <dc:description xmlns:ns0="xml" ns0:lang="en">Starting from Irving Fisher’s equation of exchange ( ) at the basis of the quantity theory of money, we analyze from a theoretical macroeconomic-monetary perspective whether the increase of monetary aggregates M1 and M2 might have affected general prices. Moreover, we investigate why monetary aggregates have evolved differently for COVID-19 than in the global financial crisis (2007-2009). The article elaborates on data for the US from Q1/2020 to Q2/2022 and represents the first scientific contribution to the analysis of post-COVID-19 inflation by means of the equation of exchange. We find that money growth seems to have contributed to inflation supporting the “monetarist” view, but that non-monetary drivers such as supply shocks and increasing profit margins outweigh the monetary ones.</dc:description>
  <dc:format>application/pdf</dc:format>
  <dc:identifier>https://susi.usi.ch/global/documents/334711</dc:identifier>
  <dc:identifier>https://n2t.net/ark:/12658/srd1334711</dc:identifier>
  <dc:identifier>https://susi.usi.ch/documents/334711/files/3002696_638385876201392313.pdf</dc:identifier>
  <dc:language>eng</dc:language>
  <dc:relation>https://reunido.uniovi.es/index.php/EBL/article/view/19396</dc:relation>
  <dc:relation>info:eu-repo/semantics/altIdentifier/doi/10.17811/ebl.12.4.2023.321-330</dc:relation>
  <dc:relation>info:eu-repo/semantics/altIdentifier/ark/12658/srd1334711</dc:relation>
  <dc:rights>info:eu-repo/semantics/openAccess</dc:rights>
  <dc:rights>CC BY</dc:rights>
  <dc:source>Economics and Business Letters. - 2023, vol. 12, no. 4, p. 321-330</dc:source>
  <dc:subject xmlns:ns1="xml" ns1:lang="en">COVID-19</dc:subject>
  <dc:subject xmlns:ns2="xml" ns2:lang="en">Inflation</dc:subject>
  <dc:subject xmlns:ns3="xml" ns3:lang="en">Irving Fisher’s equation of exchange</dc:subject>
  <dc:subject xmlns:ns4="xml" ns4:lang="en">Macroeconomics</dc:subject>
  <dc:subject xmlns:ns5="xml" ns5:lang="en">Velocity of money</dc:subject>
  <dc:subject>info:eu-repo/classification/udc/33</dc:subject>
  <dc:title xmlns:ns6="xml" ns6:lang="en">Monetary aggregates in the US since 2020 and post-COVID-19 inflation : evidence from the equation of exchange</dc:title>
  <dc:type>http://purl.org/coar/resource_type/c_6501</dc:type>
</oai_dc:dc>