reasons, i.e., that no precise statements about causality or dynamics between money growth and inflation can be inferred from … its components. These shortcomings can be tackled by estimating inflation based upon a holistic approach and the … expansions of the monetary base caused by global lockdowns, and a crash in global productivity, on inflation. The main findings …

shown that an inflation equation that incorporates the above stated implication of the Quantity Theory of Money predicts …The main implication of the Quantity Theory of Money is that long-run movements in the price level are determined … quite well the actual behavior of inflation during the past decade or so. These results however hold for M2, not M1, measure …

broad money growth and inflation has been mostly one-for-one, and largely invariant to changes in the monetary regime. There …. Only for the period since the mid-1980s, which has seen the introduction of monetary regimes in which inflation is directly … of money growth and inflation produced by time-varying parameters VARs has been near-uniformly one-for-one for all …