Bruggeman, Annick; Camba-Méndez, Gonzalo; Fischer, Björn - 2005
The quantity theory of money predicts a positive relationship between monetary growth and inflation over long …-run horizons. However, in the short-run, transitory shocks to either money or inflation can obscure the inflationary signal … stemming from money. The spectral analysis of time series provides filtering tools for removing fluctuations associated with …