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. …In this article we derive a microfounded model of money demand under uncertainty built on intertemporally optimizing …

study has employed a dynamically simulated autoregressive distributed lag (ARDL) cointegration approach, which shows a well …-specified and stable money demand in India after incorporating the inflation forecast variable as one of the essential determinants … aggregate, in the ongoing flexible inflation targeting framework, as one of the essential information or indicator variables …

cointegration analysis isperformed over the sample period 1983 Q1 and 2015 Q1 and leads to a well-identified modelcomprising real … inflation pressure at the end of the sample. Excess liquidity models turnout to outperform the autoregressive benchmark, as they …

including the recent period of the financial crisis. Evidence is based on a cointegration analysis, where inflation and asset … demand equation is sufficient, at least as a rough indication. -- Money demand ; inflation ; excess liquidity ; cointegration …This paper explores the stability of the relation between money demand for M3 and inflation in the euro area by …

including the recent period of the financial crisis. Evidence is based on a cointegration analysis, where inflation and asset … demand equation is sufficient, at least as a rough indication. -- Money demand ; inflation ; excess liquidity ; cointegration …This paper explores the stability of the relation between money demand for M3 and inflation in the euro area by …

including the recent period of the financial crisis. Evidence is based on a cointegration analysis, where inflation and asset …This paper explores the stability of the relation between money demand for M3 and inflation in the euro area by … inflation are identified. The results indicate that the equilibrium evolution of M3 is still in line with money demand. In the …

determine when and if a seigniorage-maximizing inflation rate occurred and this way provide a rational on the development of … that the seigniorage-maximizing rate of inflation of the Venezuelan economy occurred around the first quarter of 2016 at a … monthly inflation rate of approximately 13 percent. The implications of this are that when facing the choice of maximizing …

A low-inflation mystery emerged during the 2010-2019 period as the Federal Reserve struggled to hit its two percent … inflation target. This paper presents theoretical results and empirical evidence that points to the safe asset shortage as a key … reason for the low inflation during this time. Specifically, the paper shows that the safe asset shortage was part of a …

This paper demonstrates how a target for money growth can be beneficial for an inflation targeting central bank acting …