Most economists - and nearly all central bankers seem to think that inflation is costly. But the quantity theory asserts

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answerhappygod
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Most economists - and nearly all central bankers seem to think that inflation is costly. But the quantity theory asserts

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Most economists - and nearly all central bankers
seem to think that inflation is costly. But the
quantity theory asserts that there is no long-run link
between money and output, nor between inflation
and output. Can inflation be costly if the quantity theory is true?
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