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the relation of Money Growth and its effect on Inflation, for the specific case of Bolivia. The text describes the … a Box-Jenkins procedure (ARMA process) that confirms the relation between Money Growth and Inflation in Bolivia using …Is inflation always explained as a monetary phenomenon? In this study, the author presents empirical evidence regarding …
Persistent link: https://www.econbiz.de/10010840352
of inflation. Differences between the rate of inflation and currency depreciation (over- or undershooting of the exchange …
Persistent link: https://www.econbiz.de/10005264134
In the past decades, much work has been geared toward solving the problem of time inconsistency in monetary policy and analyzing the coordination problem between fiscal and monetary policy. This paper provides a review of the theoretical background to these theories, while also focusing on their...
Persistent link: https://www.econbiz.de/10005826014
Credibility and financing problems are important reasons why countries may seek to involve external institutions in the design and implementation of stabilization programs. In particular, governments may rely on external institutions to ‘enforce’ programs that would otherwise lack...
Persistent link: https://www.econbiz.de/10005599774
This paper presents an empirical investigation of inflation dynamics in Libya over the period 1964–2010, using … cointegration and error correction models. While inflation inertia is found to be a key determinant of consumer price inflation, the … econometric results indicate that government spending, money supply growth, global inflation, and exchange rate pass-through play …
Persistent link: https://www.econbiz.de/10011142009
inflation when there is no perceived commitment to reduce the fiscal deficit. The model is based on a modified version of the … current consumption leads to an equal increase in inflation. The timing of this increase varies with the size of the deficit … inflation. Three policy conclusions are offered. …
Persistent link: https://www.econbiz.de/10005263970
some of the area's institutional features, which may impart considerable persistence to area-wide inflation, caution … against shifting to conventional inflation targeting. But the time series evidence also seems to point to a relatively loose … connection between variations in nominal money growth and inflation in the short to medium run. As a consequence, effective …
Persistent link: https://www.econbiz.de/10005264049
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/10005826627
inflation, for the case of Bolivia. The text describes the situation of the country analysed in terms of monetary policy after … relation between money growth and inflation in Bolivia using data for the years 1998 to 2010. Evidence confirms the impact of … money growth on inflation; the evidence suggests that the level of current inflation in Bolivia has a strong relation with …
Persistent link: https://www.econbiz.de/10010668588
This paper examines empirically U.S. broad money demand emphasizing the role of financial market risk. We find that money demand rises with the liquidity risk of stock markets or the credit risk of corporate bond markets. After controlling for the effect of financial market risk, money demand...
Persistent link: https://www.econbiz.de/10005248246