According to Bennett McCallum [1], the quantity theory of money (QTM) is the macroeconomic observation that the economy obeys long run neutrality of money (it's not just MV = PY).
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I. Quantity theory and effective field theory
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According to Bennett McCallum [1], the quantity theory of money (QTM) is the macroeconomic observation that the economy obeys long run neutrality of money (it's not just MV = PY).