This paper is motivated by empirical observations on the comovements of currency velocity, inflation, and the relative … welfare cost measured using an estimated money demand schedule. Second, we provide estimates of the welfare cost of inflation …

It is generally thought that there is a negative long-term relationship between inflation and growth and a positive … finance-growth relationship is more robust than the inflation-growth relationship. In this paper we explore the triangle of … relationships - finance-inflation-growth - with panel data from as many as 84 countries for 1960-95. Our results with standard …

It is generally thought that there is a negative long-term relationship between inflation and growth and a positive … finance-growth relationship is more robust than the inflation-growth relationship. In this paper we explore the triangle of … relationships - finance-inflation-growth - with panel data from as many as 84 countries for 1960-95. Our results with standard …