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翻訳と辞書　辞書検索 [ 開発暫定版 ] スポンサード リンク Equation of exchange ： ウィキペディア英語版 Equation of exchange In economics, the equation of exchange is the relation: :$M\backslash cdot\; V\; =\; P\backslash cdot\; Q$ where, for a given period, :$M\backslash ,$ is the total nominal amount of money supply in circulation on average in an economy. :$V\backslash ,$ is the velocity of money, that is the average frequency with which a unit of money is spent. :$P\backslash ,$ is the price level. :$Q\backslash ,$ is an index of real expenditures (on newly produced goods and services). Thus ''PQ'' is the level of nominal expenditures. This equation is a rearrangement of the definition of velocity: ''V'' = ''PQ'' / ''M''. As such, without the introduction of any assumptions, it is a tautology. The quantity theory of money adds assumptions about the money supply, the price level, and the effect of interest rates on velocity to create a theory about the causes of inflation and the effects of monetary policy. In earlier analysis before the wide availability of the national income and product accounts, the equation of exchange was more frequently expressed in transactions form: :$M\backslash cdot\; V\_T\; =\; P\backslash cdot\; T$ where :$V\_T\backslash ,$ is the transactions velocity of money, that is the average frequency across all transactions with which a unit of money is spent (including not just expenditures on newly produced goods and services, but also purchases of used goods, financial transactions involving money, etc.). :$T\backslash ,$ is an index of the real value of aggregate transactions. == Foundation == The foundation of the equation of exchange is the more complex relation :$M\backslash cdot\; V\_T\; =\backslash sum\_\; (p\_i\backslash cdot\; q\_i)=\backslash mathbf^\backslash mathrm\backslash cdot\backslash mathbf$ where :$p\_i\backslash ,$ and $q\_i\backslash ,$ are the respective price and quantity of the ''i''-th transaction. :$\backslash mathbf$ is a column vector of the $q\_i\backslash ,$. The equation :$M\backslash cdot\; V\_T\; =\; P\backslash cdot\; T$ is based upon the presumption of the classical dichotomy — that there is a relatively clean distinction between overall increases or decreases in prices and underlying, “real” economic variables — and that this distinction may be captured in terms of price indices, so that inflationary or deflationary components of p may be extracted as the multiplier ''P'', which is the aggregate price level: :$M\backslash cdot\; V\_T\; =\; P\backslash cdot\; (\backslash mathbf\_^\backslash mathrm\backslash cdot\backslash mathbf)\; =\; P\backslash cdot\; T$ where $\backslash mathbf\_^\backslash mathrm$ is a row vector of relative prices; and likewise for :$M\backslash cdot\; V\; =\; P\backslash cdot\; Q.$ 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Equation of exchange」の詳細全文を読む スポンサード リンク 翻訳と辞書 : 翻訳のためのインターネットリソース Copyright(C) kotoba.ne.jp 1997-2016. All Rights Reserved.