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Some alternative monetary facts
Stella, Peter; Kumar, Manmohan S.; Bhargava, Apoorv - 2021
Persistent link: https://www.econbiz.de/10012487229
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Does Money Growth Granger-Cause Inflation in the Euro Area? : Evidence From Out-Of-Sample Forecasts Using Bayesian Vars
Österholm, Pär - 2008
-causes inflation in the euro area. Based on data from 1970 to 2006 and forecasting horizons of up to 12 quarters, there is surprisingly … power of money growth for inflation is substantially lower in more recent sample periods compared to the 1970s and 1980s …. This cautions against using money-based inflation models anchored in very long samples for policy advice …
Persistent link: https://www.econbiz.de/10014401871
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Public Debt, Money Supply, and Inflation : A Cross-Country Study and its Application to Jamaica
Kwon, Goohoon - 2006
predictions of a forward-looking model of inflation. Wealth effects of public debt could also affect inflation, as posited by the … fiscal theory of the price level, but we do not find supportive evidence. The results suggest that the risk of a debt-inflation … inflation …
Persistent link: https://www.econbiz.de/10014400653
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Can the Release of a Monetary Overhang Trigger Hyperinflation?
Osband, Kent - 1992
It is widely feared that, once prices are decontrolled in the formerly centrally–planned economies, households’ release of previously accumulated money will trigger a hyperinflation. This paper finds, instead, that whether a country’s fiscal, monetary, and labor market policies are...
Persistent link: https://www.econbiz.de/10014396464
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Does Money Matter for U.S. Inflation? : Evidence from Bayesian VARs
Österholm, Pär - 2008
We use Bayesian estimation techniques to investigate whether money growth Granger-causes inflation in the United States … including money growth in simple VAR models of inflation does systematically improve out-of-sample forecasting accuracy. This …. However, the contribution of money to inflation forecasting accuracy is quantitatively limited and tends to be smaller in …
Persistent link: https://www.econbiz.de/10014401395
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Optimal liquidity and economic stability
Linghui Han; Lee, Il Houng - 2012
Monetary aggregates are now much less used as policy instruments as identifying the right measure has become difficult and interest rate transmission has worked well in an increasingly complex financial system. In this process, little attention was paid to the potential spillover of excess...
Persistent link: https://www.econbiz.de/10009615556
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Monetary policy and models of currency demand
El Hamiani Khatat, Mariam - 2018
Two types of currency in circulation models are identified: (1) a first generation derived from the theory of money demand and (2) a second generation aimed at producing daily forecasts of currency in circulation. In this paper, we transform the currency demand function into a VAR to capture the...
Persistent link: https://www.econbiz.de/10011803990
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Central Banking without Central Bank Money
Ize, Alain - 1999
rates and inflation even in the absence of base money. The paper explores implications for current and future central …
Persistent link: https://www.econbiz.de/10014400970
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Optimal Liquidity and Economic Stability
Han, Linghui - 2012
Monetary aggregates are now much less used as policy instruments as identifying the right measure has become difficult and interest rate transmission has worked well in an increasingly complex financial system. In this process, little attention was paid to the potential spillover of excess...
Persistent link: https://www.econbiz.de/10014396541
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Monetary Aggregation : A Reconciliation of Theory and Central Bank Practice
Pradhan, Mahmood - 1994
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...
Persistent link: https://www.econbiz.de/10014395970