Over the last two centuries, the coherence between either narrow or broad money growth and inflation at zero has … that the fraction of inflation's long-run variation explained by long-run money growth has been very high and relatively … outbursts associated with World War I and the Great Inflation - but not World War II - whereas following the disinflation of the …

most recent decade, associated with the introduction of an inflation-targeting regime, has been significantly more stable … than the previous post-WWII era. For real GDP growth, and for three measures of inflation, break dates are identified at … around the time of the introduction of inflation-targeting, in October 1992. For all four series, the estimated innovation …

- both per hour and per worker - in the United States, the Eurozone, the United Kingdom, Australia, and Japan over the post … years. Results for the Eurozone point towards a marked deceleration since the beginning of the 1980s, with equilibrium …