Scharnagl, Michael; Gerberding, Christina; Seitz, Franz - In: International Finance 13 (2010) 3, pp. 409-441
In recent years, the relevance of money growth indicators for the conduct of monetary policy has been questioned in the … significantly improved by adding a policy response to money growth. In contrast to most previous studies, our analysis explicitly …, the greater the benefits of incorporating a money growth response are in terms of reducing volatility in output, inflation …