A relação entre moeda e inflação na teoria quantitativa da moeda por Friedman e na teoria monetária moderna

Abstract

The present work analyzes the possibility of fiscal policies financed with currency issuance in two Models: The first is the Monetarist Model, where the growth of the money supply increases the product and prices in the short term, without results in the long term, in this way, defends the constant growth of the money supply to the detriment of discretionary monetary policy measures. The second Model is Modern Monetary Theory. For this current, an economy with idle capacity has no obstacles to increase the money supply, it understands that money does not cause inflation, but inflation expectations do. From the results of this work, it is concluded that the monetary expansion policy is valid, depending on the economic context of the economy, since inflation is determined by different motivations, and may even occur due to expansionary monetary policies. Comparing the two models, it was noticed that there is nothing inherent to a policy of increasing monetary issuance that, as a consequence, leads to a generalized increase in prices.