Short answer: It helps a lot when other important variables are excluded from the information set. Longer answer: We revisit claims in the literature that money growth is Granger-causal for inflation at low frequencies. Applying frequency-specific tests in a comprehensive system setup for...

This study attempts to examine the causal relationship between money supply and stock prices in Pakistan economy using monthly data from June 1991 to June 1999 and applying Co-integration and Error Correction Models. The Co-integration analysis suggests that, in general, there exist a long run...