Gillman, Max; Kejak, Michal; Valentinyi, Akos - Department of Economics and Finance Research and … - 1999
The empirical evidence suggests that there is a significant, negative relationship between inflation and economic …. Therefore the technology of the financial sector influences the velocity of money, and consequently, how inflation affects … generates an inflation-growth effect whose magnitude falls in the range found by the empiri-cal studies. Moreover, in contrast …