We assess the bivariate relation between money growth and inflation in the euro area and the United States using hybrid … statistically unstable across time in both regions. The effect of money growth on inflation weakened notably after the 1980s before … maximum impact of money growth on inflation is increasing in the trend level of inflation. These results caution against …

inflation in the United States. We test for Granger-causality out-of-sample and find, perhaps surprisingly given recent … theoretical arguments, that including money growth in simple VAR models of inflation does systematically improve out … Volcker and Greenspan eras. However, the contribution of money to inflation forecasting accuracy is quantitatively limited and …

Based on the observed behavior of monetary aggregates and exchange rates, we classify inflation stabilization episodes …

relationship of various measures of money and inflation. After demonstrating that previous naïve correlations between money and … inflation as established in the 20th century literature have largely disappeared, we explain why this cannot be taken as support …

Ukraine's gas pricing policy subsidizes gas and heating for all households. As the cost of imported gas rises, this …

Amid renewed crisis, falling tax revenues, and rising debt, Ukraine faces serious fiscal consolidation needs. Durable … vector autoregressive model, this paper finds that Ukraine's near-term revenue and spending multipliers are well below one …

Ukraine’s economic performance has been anemic since the early 1990s. A major impediment to productivity growth has … institutional weakness in Ukraine and quantify the long-term growth impact of catching-up to Poland in terms of the quality of major … most optimistic scenario, where institutional gaps are fully addressed, Ukraine would need 15 years to catch up to Poland …