been subject to a weakly exogenous characteristic and conclude that the main factors leading to domestic inflation are …

equation, and inflation was driven mainly by the money gap. After a striking changeover, from 1983 until 2000 the demand for … currency took a very different form, and inflation was determined by the markup without an explicit effect from money. However …

subsequent inflation when accounting for equilibrium velocity movements due to inflation regimes changes. These movements, driven … equilibrium velocity and interest rate movements biases cross-country and time series dynamic money growth / inflation estimated …

low but still positive rates of inflation, provides an adequate approximation in welfare terms to the alternative of …

subsequent inflation when accounting for equilibrium velocity movements due to inflation regimes changes. These movements, driven … equilibrium velocity and interest rate movements biases cross-country and time series dynamic money growth / inflation estimated …

countries with low inflation, the raw relationship between average inflation and the growth rate of money is tenuous at best … elasticities implied by theories of Baumol-Tobin and Miller-Orr. Finally, the sample after 1990 shows considerably less inflation … variability, worsening the fit of a one-for-one relationship between money growth and inflation, and generates a fairly low …

for inflation and for real economic development. …