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Irving Fisher's encounter with the Quantity theory of Money began in the 1890s, during the debate about bimetallism …, and reached its high point in 1911 with the publication of The Purchasing Power of Money. His most important refinement of …
Persistent link: https://www.econbiz.de/10010292029
This paper assesses the performance of monetary indicators in predicting euro area HICP inflation out-of-sample over the period since the start of EMU considering a wide range of forecasting models, including standard bivariate forecasting models, factor models, simple combination forecasts as...
Persistent link: https://www.econbiz.de/10010295806
It is then argued that, whereas Monetarism brought about a revival of the quantity theory of money from the limbo into …
Persistent link: https://www.econbiz.de/10011390725
ability of money-based forecasts relative to a simple random walk benchmark model was high at medium-term forecasting horizons …
Persistent link: https://www.econbiz.de/10011604913
While the long run relation between money and inflation is well established, empirical evidence on the adjustment to … substantially expands the traditional vector error correction approach, to analyze the short run impact of money on prices. We … contribute to the literature in three ways: First, we distinguish changes in velocity of money that are due to institutional …
Persistent link: https://www.econbiz.de/10010271412
reference to the quantity of money.Following up the finding that inflation is determined in a coordination game, it is …. Central banks could thus be shown to be able to influence inflation rates, although the quantity of money plays no part in …
Persistent link: https://www.econbiz.de/10013208483
This paper studies the issue of whether money contains useful information about future inflation in a panel of nine … developed countries. A low frequency estimate of excess money growth is compared to an estimate of the inflation trend following … the discussion in Woodford (2007). The empirical analysis shows that money contains more information about future CPI …
Persistent link: https://www.econbiz.de/10013208533
This paper analyses the early years of the history of the Bundesbank from a history of economic thought-perspective. The study uses the example of Bernhard Benning, who was heading the Economics Department of the Reichs-Kredit-Gesellschaft, one major banks owned by the German Reich during the...
Persistent link: https://www.econbiz.de/10013448507
Persistent link: https://www.econbiz.de/10000894844
Persistent link: https://www.econbiz.de/10000855474