In theory price-level targeting is superior to inflation-targeting because it provides more certainty about the long-term purchasing power of money.

从理论上来讲，价格水平目标制优于通货膨胀目标制，其原因是它更为确定货币长期的购买力。

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How the price level is determined and why it might change over time is called the quantity theory of money.

价格水平如何决定、它为何会随时间改变，对此的(一种)解释是货币数量论。

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The money quantity theory claimed that money is exogenous from the relation of money quantity and aggregate price fluctuation;

货币数量论从货币数量与物价变动的关系得出货币具有外生性；

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In theory, a discretionary central bank could limit the quantity of money and achieve long-run price stability by controlling the growth of nominal final demand.

FORBES: The Federal Reserve's Flawed Approach To Monetary Policy