Moreno, Ramon; Glick, Reuven - Center for Pacific Basin Monetary and Economic Studies, … - 2001
and abandoned monetary targets in favor of inflation targeting, apparently because the perceived usefulness of money as a … predictor of inflation, i.e. the information content of money, has fallen. In this paper, we discuss factors that are likely to … have influenced the stability of the relationship between money and inflation, particularly in the 1990s, and then assess …