Journal of Finance Vol. 29 No. 3 1974
EFFICIENT CAPITAL MARKETS AND THE QUANTITY THEORY OF MONEY
Abstract
The purpose of this paper is to investigate the relationship between the money supply and returns to holding common stock. A primary reason for undertaking this investigation is the apparent contradiction between two hypotheses that have been given considerable attention to the literature: the quantity theory of money and the efficient capital markets hypothesis.
- DOI
- 10.1111/j.1540-6261.1974.tb01489.x
- Volume
- 29
- Issue
- 3
- Pages
- 887-908
- Language
- en
- Sources
- openalex crossref