What's more important is that deflation and inflation are essentially monetary phenomena, whether or not the inflation of a few years ago or current deflation can all be attributed to the eased and tightened monetary policies of the U.S. Federal Reserve. (en.people.cn)
«I'm not even sure we have any inflation» Most agree that inflation is a monetary phenomena. (carnegieendowment.org)
A student of Robert Mundell and Harry Johnson, at the University of Chicago, Frenkel (and Rudiger Dornbusch and Stanley Fischer) of effected a momentous change in the early 1970s in the way the balance of payments among nations is understood as mainly a monetary phenomenon. (economicprincipals.com)