Bojanic, Antonio - In: Economies : open access journal 9 (2021) 1/37, pp. 1-18
utilizing a multivariate TMS, the results generally fall in line with what the quantity theory of money predicts. In the high …-inflation regime, money growth increases inflation (almost) one-for-one, as classical economics contends. From a short-run perspective … in inflation are mostly explained by GDP growth; in the low-inflation regime, money growth and velocity growth are the …