Inflation is a monetary phenomenon. While this statement is widely accepted in terms of a long-run relationship, the … quantity theory has been made operational also for the short-run dynamics of inflation by so-called Pstar models. An error … inflation. The response of the HICP is strongly positive. Other factors such as raw material prices and unit labor costs also …

Our paper studies the relationship between money growth and consumer price inflation in the euro area using wavelet … analysis. Wavelet analysis allows to account for variations in the money growth-inflation relationship both across the … frequency spectrum and across time. We find evidence of strong comovements between money growth and inflation at low frequencies …

elasticity of money demand after 2001 is taken into account. Measures of excess liquidity do not show significant inflation …

coins and banknotes. The monetary overhang and the real money gap do not indicate significant inflation pressures. The …

Part of the present inflation is caused by the breakdown of globalization, in particular supply chains, part is caused … the past and in the presence. This paper attributes inflation decisively to the overwhelming money creation by the …