Developments in money and banking have a powerful impact on the economic situation. The purpose of International Monetary Research Ltd. is to analyse these developments, and advise companies, financial institutions and interested individuals on wider macroeconomic messages. The behaviour of the money supply – nowadays dominated by bank deposits – receives particular attention. As the chart to the right shows, changes in the quantity of money and national income are highly correlated over the long run.

(Anyone taking commercial decisions on the basis of information and advice in this website does so at their own risk. See disclaimer.)


Contact address is:
International Monetary Research Ltd.
Huntley Manor
Huntley, Glos. GL19 3HQ
Phone no.:    01452 830840
Company registration no.:    6755114
VAT registration no.:    973 3460 06

In his 1970 Institute of Economic Affairs pamphlet on The Counter-Revolution in Monetary Theory Milton Friedman, who was to be awarded the Nobel prize for economics six years later, wrote,

“Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. … A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth.”

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