The amount of products and service we produce probably did not.
Most people think that M0 is only a small factor in price increase and other factors like credit given by banks, the speed at which money moves and spending/saving behavior play a bigger role. But I doubt that. To me, it seems those are all indirect, delayed outcomes of the money supply. So we don't see the prices increase linearly and instantly with the increase of the monetary base. But we see it eventually.
https://fred.stlouisfed.org/series/BOGMBASE
The amount of products and service we produce probably did not.
Most people think that M0 is only a small factor in price increase and other factors like credit given by banks, the speed at which money moves and spending/saving behavior play a bigger role. But I doubt that. To me, it seems those are all indirect, delayed outcomes of the money supply. So we don't see the prices increase linearly and instantly with the increase of the monetary base. But we see it eventually.