for forecasting stock market busts than future inflation. Overall, this evidence points to (i) a possible evolution of the …

We analyze the relationship between M3 growth and inflation within an error correction framework including also the … inflation. Shocks in M3 growth account for up to 30% of the inflation forecast error variance, while the effects of output gap … the seventies and beginning of the eighties when interest rate and inflation rate levels were high and real money growth …

much sharper rise in inflation than measured by the official price indices, whose quality was called into question. In this … determinants. Since these data do not rely on official inflation statistics, they provide an independent check for the latter. We … official inflation statistics. We do not find evidence in support of this hypothesis …

reliable short-run inflation forecast and with regard to the latter we incur the need for a stable demand for money function …

This paper reviews the key economic issues concerning the welfare costs of inflation and deflation, with a view to … shedding light on the desirable properties of the inflation process. Our review of the evidence on the overall costs of … inflation and deflation indicates that such costs could be even higher than previously thought, also at moderate rates of …

This paper reviews the key economic issues concerning the welfare costs of inflation and deflation, with a view to … shedding light on the desirable properties of the inflation process. Our review of the evidence on the overall costs of … inflation and deflation indicates that such costs could be even higher than previously thought, also at moderate rates of …