Narayan, Paresh Kumar; Narayan, Seema; Prasad, Arti - 2012
inflation, budget deficits, money supply, output, and import prices is essential. We find that inflation, deficits and money … supply are cointegrated when inflation is the endogenous variable, and the long-run elasticities confirm that money supply … and deficits induce inflation. While there is a short-run, unidirectional causality running from money supply to inflation …