Conectando la teoría del consumidor y la teoría cuantitativa del dinero
un enfoque de Cantillon
DOI:
https://doi.org/10.30800/mises.2022.v10.1450Palabras clave:
teoría del consumidor, efecto Cantillon, TQM, elasticidad de la oferta monetaria a nivel de precios al consumidor, no neutralidad monetariaResumen
Este ensayo muestra una conexión entre la teoría del consumidor y la teoría cuantitativa del dinero, inspirado en el enfoque de Richard Cantillon, en el que los cambios en el stock de dinero influyen en los niveles de precios, caracterizando la elasticidad de la oferta de dinero en relación con el nivel de precios al consumidor. Así, cambios en la oferta monetaria generan cambios en el nivel de precios, y tales efectos monetarios afectan la elección óptima del consumidor si el cambio en la oferta monetaria afecta los precios de dos bienes con diferente intensidad. Cuando el gobierno expande la cantidad de dinero en la economía, afecta los precios relativos y, en consecuencia, cambia las decisiones de los agentes económicos en una economía de mercado. Con base en datos trimestrales estadounidenses, 1946:04 a 2019:04, los resultados empíricos muestran que el cambio en el stock de dinero afecta directamente el cambio óptimo en el consumo e indirectamente afecta el cambio óptimo en el consumo a través del cambio en los precios relativos, mostrando que el dinero no es neutral.
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