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Hsiao, Cheng - 1977

In this paper we intend to survey and suggest the theoretical framework of the important aspects of causality detection with the purpose of conveying to the reader the essential features and the different forms in which inferences may be drawn from given data. Section II presents the basic...

Persistent link: https://www.econbiz.de/10012478962

Money and Inflation in the Euro Area : A Case for Monetary Indicators?

Gerlach, Stefan - 2000

This paper studies the relationship between inflation, output, money and interest rates in the euro area, using data … power for future inflation. The real money gap contains more information about future inflation than the output gap and the … Eurosystem's money-growth indicator is an inferior indicator of future inflation …

Persistent link: https://www.econbiz.de/10012470705

The Band Pass Filter

Christiano, Lawrence J. - 1999

illustrate the use of this approximation, we use it to characterize the change in the nature of the Phillips curve and the money-inflation … change in money growth-inflation relation …

Persistent link: https://www.econbiz.de/10012471533

Modeling Money

Christiano, Lawrence J. - 1998

We develop and implement a limited information diagnostic strategy for assessing the plausibility of monetary business cycle models. Our strategy focuses on a model's ability to reproduce empirical estimates of an actual economy's response to monetary policy shocks. A key input to this...

Persistent link: https://www.econbiz.de/10012472447

The Dynamics of High Inflation

Ball, Laurence - 1993

This paper presents a model of a high-inflation economy. The model includes the government budget constraint and money … demand equation of Cagan's 1956 model; an accelerationist Phillips curve that captures inflation inertia; and an aggregate …-spending equation that accounts for the effects of the inflation tax. The paper derives the dynamic effects of fiscal policy, incomes …

Persistent link: https://www.econbiz.de/10012474362

Money, Interest and Prices

Fischer, Stanley - 1991

Twenty five years after the publication of the second edition, this paper describes and evaluates the Contributions to monetary and macroeconomics made in Don Patinkin's Money, Interest, and Prices (MIP). Its first accomplishment was to settle definitively many issues, such as the valid and...

Persistent link: https://www.econbiz.de/10012475425

Monetary Overhang and Reforms in the 1940s

Dornbusch, Rudiger - 1990

Post-1945 Europe had many of the traits observed today in Eastern Europe and the Soviet Union: price controls, shortages, black markets and a monetary overhang. The policy response in most countries was monetary reform - - the deliberate immobilization of liquid assets and in many instances an...

Persistent link: https://www.econbiz.de/10012475571

Monetary Policy Lessons of recent Inflation and Disinflation

Poole, William - 1987

The decline of velocity in the 1980s is a surprise that should not have been. Economists unwisely relied on a velocity trend of 3 percent per year when they should have insisted on an economic explanation for rising velocity. An analysis of velocity and interest rates from 1915 to 1986 suggests...

Persistent link: https://www.econbiz.de/10012476768

Monetary Growth, Inflation, and Economic Activity in a Dynamic Macro Model

Turnovsky, Stephen J. - 1987

This paper analyzes the effects of an increase in the monetary growth rate within a dynamic optimizing macroeconomic model. Both the short-run and long-run effects, and therefore the adjustments along the transitional path, depend critically upon the tax structure and the firm's corresponding...

Persistent link: https://www.econbiz.de/10012476936

The Effects of Inflation and Money Supply Announcements on Interest Rates

Urich, Thomas - 1984

This paper examines the impact of the money supply and inflation rate announcements on interest rates. Survey data on …

Persistent link: https://www.econbiz.de/10012477775

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