Cambridgeképlet

The Cambridge formula, also known as the Cambridge equation, is a simplified macroeconomic model that relates the money supply, the price level, the real income, and the velocity of money. It is often expressed as MV = PT, where M represents the quantity of money in circulation, V is the velocity of money (the average number of times a unit of money is spent in a given period), P is the general price level of goods and services, and T represents the volume of transactions in the economy.

This equation is a variation of the more general quantity theory of money. The Cambridge approach, developed by economists like Alfred Marshall and Arthur Cecil Pigou, focused more on the demand for money. They argued that individuals and firms hold money for transaction purposes, as a store of value, and for precautionary reasons. The amount of money they wish to hold is influenced by factors such as income levels and interest rates.

The Cambridge formula can be rewritten as M/P = kY, where k represents the proportion of real income (Y) that individuals choose to hold in the form of money. This form highlights the liquidity preference aspect of money demand. If k is stable, then a change in the money supply (M) would lead to a proportional change in the price level (P), assuming real income (Y) remains constant. However, in reality, k and Y can fluctuate, making the relationship between money supply and prices more complex. The Cambridge formula, despite its simplicity, provides a foundational understanding of the relationship between money and prices in an economy.