Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/149729
Authors: 
Bilo, Simon
Year of Publication: 
2015
Series/Report no.: 
CHOPE Working Paper 2015-02
Abstract: 
Richard Cantillon and David Hume both propose the theory of monetary non-neutrality, whereby the money supply changes through the money balances of specific individuals. Such an uneven distribution of monetary change then spreads throughout the economy step by step and changes relative prices. While a number of authors note that Hume and Cantillon both present the same theory, they do so without seeking confirmation from the original texts. I fill this gap in the literature by identifying the main constituent parts of the theory in the contributions of both Cantillon and Hume.
Subjects: 
Richard Cantillon
Cantillon effects
first-round effects
David Hume
injection effects
JEL: 
B11
B31
E51
Document Type: 
Working Paper

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