endogeneity of money. Implicitly, the money supply process with regard to Turkish inflation is unpredictable with respect to the … past history of prices, i.e. either inflation or currency depreciation. Therefore, the Turkish monetary regime may be … persistently high inflationary process in Turkey. -- Demand for Money ; High Inflation ; Granger Causality ; Exogeneity of Money …

, interest rates and inflation rate in ASEAN-5, namely Indonesia, Malaysia, Philippine, Singapore and Thailand. Using sample …-run relationships between M2 and real income, lending rates, interest rates and inflation rate for ASEAN-5 …

not separable in consumption and real balances, and trend inflation. An empirical study of U.S. data revealed that there … trend inflation. A further decline in the interest-elasticity of the demand for money was observed in the 1980s due to the … welfare cost of inflation that subsequently explains the rise in monetary neutrality observed in the data …

separable in consumption and real balances, and trend inflation. An empirical study of U.S. data revealed that there was a … inflation. A further decline in the interest-elasticity of the demand for money was observed in the 1980s due to the changing … cost of inflation that subsequently explains the rise in monetary neutrality observed in the data …

We examine the responses of prices and inflation to monetary shocks in an inventory-theoretic model of money demand. We … households' money inventories leads to a partially offsetting endogenous reduction in velocity. We also show that inflation …

show that this framework is able to explain the positive relationship between the steady state level of inflation and … business cycle inflation volatility observable in the data. In addition, we contribute to the theoretical literature by … prove that the monotonic relationship between steady state inflation level and business cycle inflation volatility holds …

equilibrium exists. We study the response differences in the dynamics of the inflation rate to changes in the mean and variance of … the Great Recession, in which the effects of greater model uncertainty may have played a role in keeping inflation rates …

into account leads to ambiguous effects w.r.t. to the impact of capital as well as inflation risk, thus contradicting …. The results reveal that U.S. households increase their demand for money in response to positive changes in inflation and …

ambiguous effects w.r.t. to the impact of capital market risk as well as inflation risk, which is due to the interplay of … response to positive changes in inflation risk and capital market risk, respectively, with both effects lasting permanently. …