In this paper, we establish a connection between money growth and inflation identified under different monetary policy regimes using UK data. We study the (in)stability of this quantity theoretic relationship, and interpret it through the lens of a New Keynesian model of monetary policy with...

The starting point of this project is the question of whether the macroeconomics of the German political establishment does indeed differ, as it often seems to do, from standard textbook macroeconomics: in particular, the former appears to neglect demand management (although it may be quite...