. Contrary to a number of recent similar papers estimated with US and euro-area data, we find that real money balances contribute … Geldmenge einen signifikanten Beitrag zur Erklärung der Inflation und der Dynamik des Bruttoinlandsprodukts leistet. Das Model …

. Contrary to a number of recent similar papers estimated with US and euro-area data, we find that real money balances contribute …

money and credit starting from a unit of monetary base. Crucially, however, at the very low frequencies the relative amounts … of the two aggregates created out of a unit of base money have remained unchanged over time in each of the 42 countries I … analyze. This finding questions the widespread notion that, since WWII, credit has become disconnected from broad money, and …

's key variable, the quantity of money …