This paper reports an empirical test of a price dispersion equation, using data on the U.S. after World War II. The … annual wholesale price indexes for the period 1948-76. The data on money shocks are the unanticipated money growth series … results are negative. They reject the hypothesis that unexpected money shocks, as measured by Barro, affect price dispersion …

A price dispersion equation is tested with data from the German hyper-inflation. The equation is derived from a version … magnitude of the unperceived money growth. The testing of this hypothesis requires two preliminary steps. First, a price … unperceived money growth. This estimation implies the postulation of an available information set and also a function relating the …

We formulate a generalization of the traditional medium-of-exchange function of money in contexts where there is … that the option to settle transactions directly with money strengthens the stance of sellers of goods and services vis … "latent money demand" considerations imply monetary policy remains effective through medium-of-exchange channels even if the …

countries with low inflation, the raw relationship between average inflation and the growth rate of money is tenuous at best … variability, worsening the fit of a one-for-one relationship between money growth and inflation, and generates a fairly low …This paper investigates whether the quantity theory of money is still alive. We demonstrate three insights. First, for …

based on gold: circumstances which have resonance with the world of today. We identify aggregate supply, aggregate demand …, and money supply shocks using a structural panel vector autoregression. We then use historical decompositions to … nineteenth century reflected both positive aggregate supply shocks and negative money supply shocks. However, the negative money …