Jones, Barry E.; Stracca, Livio - European Central Bank - 2008
Narrow and broad money measures (including Divisia aggregates) have been found to have explanatory power for UK output … forward-looking IS curve for the UK, building on the theoretical framework of Ireland (2004). To do this, we test for additive … does not hold, however). A main finding is that the UK data seem to be broadly consistent with additive separability for …