In my challenge to macroeconomists to show a theoretical model of the price level or inflation compared to empirical data, I got a couple of responses that put forward quantity theory models where P = k MB (which I noted at the beginning of the post) or
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What does "model" mean?
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In my challenge to macroeconomists to show a theoretical model of the price level or inflation compared to empirical data, I got a couple of responses that put forward quantity theory models where P = k MB (which I noted at the beginning of the post) or