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Analysis and insight into trends
in money and banking, and their impact
on the world's leading economies

Money determines income and the change in prices

Chart shows the average annual % change in quantity of money, broadly-defined, and nominal national income in the various countries, 1980-2013.


Introduction with Professor Tim Congdon

Professor Tim Congdon, the founder of the Institute of International Monetary Research, discusses the link between money and national income, and explains the website.

Mission statement

The purpose of the Institute of International Monetary Research is to demonstrate and bring to public attention the strong relationship between the quantity of money on the one hand, and the levels of national income and expenditure on the other.

The Institute is heavily involved in the analysis of banking systems, particularly their role in the creation of new money balances. The relationships between money and national income/expenditure hold in all countries over long periods, and the Institute's research covers many countries. The "quantity theory of money" could be characterized as an "always-and-everywhere theory".

The Institute - which is associated with the University of Buckingham in England - was set up in 2014, in the aftermath of the Great Financial Crisis (a.k.a., "the Great Recession") of 2007 - 2009. It is an educational charity.

Currency - Dollar Currency - Euro Currency - Pound Currency - Rupee Currency - Yuan Currency - Yen