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pt. 1. Inflation and welfare -- pt. 2. Money demand and velocity -- pt. 3. Inflation and growth -- pt. 4. Monetary …
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This paper studies the effect of the inflation on oil and gold prices in the post-war period. It presents a monetary …, including those during the "oil shocks" in 1974 and 1979, were a consequence rather than a cause of accelerating inflation in …
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monetary aggregates, inflation and the nominal interest rate. …
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The paper adds money supply and inflation expectations shocks to a well-known three-variable structural model that … supply and to inflation expectations significantly increase real oil prices; with the unadjusted M1 aggregate there is no … role played by inflation expectations and the money supply shocks during major oil shock episodes. These shocks partially …
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