Basco, Emiliano; D'Amato, Laura; Garegnani, Lorena - In: Journal of International Money and Finance 28 (2009) 7, pp. 1182-1203
We study the regime dependence of the money-prices relationship, focusing on Argentina's experience over the last 30 years. Using descriptive and cointegration analysis we find that proportionality holds for the high inflation period but weakens once inflation lowers. Money velocity correlates...