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Artigos de Pesquisa

v. 10 (2022): Publicação Contínua

Uma conexão entre a teoria do consumidor e a teoria quantitativa da moeda: uma abordagem de Cantillon

DOI
https://doi.org/10.30800/mises.2022.v10.1450
Enviado
março 29, 2022
Publicado
2022-10-17

Resumo

Este ensaio mostra uma conexão entre a teoria do consumidor e a teoria quantitativa da moeda, inspirada na abordagem de Richard Cantillon, no qual mudanças no estoque de moeda influenciam os níveis de preços, caracterizando a elasticidade da oferta de moeda em relação ao nível de preços ao consumidor. Assim, mudanças na oferta de moeda geram mudanças no nível de preços e, tais efeitos monetários afetam a escolha ótima do consumidor se a mudança na oferta de moeda afetar os preços de dois bens com intensidades diferentes. O governo ao expandir a quantidade de dinheiro na economia, afeta os preços relativos e, consequentemente, altera as decisões dos agentes econômicos em uma economia de mercado. Baseado em dados trimestrais americanos, 1946:04 a 2019:04, os resultados empíricos mostram que a variação do estoque de dinheiro afeta diretamente a variação ótima do consumo e indiretamente afeta a variação ótima do consumo via variação dos preços relativos, evidenciando que o dinheiro não é neutro.

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