We consider what, if any, relationship there is between monetary aggregates and inflation, and whether there is any … paribus unitary relationship between inflation and money growth. Simulations of a New Keynesian model suggest that we should … allowance needed for the phase shift in the relationship between monetary growth rates and inflation. While financial innovation …

inflation. This paper shows that previously shown results are robust to changes in the specification of interest rate rigidity …. Results investigated include: (1) the procyclicality of inflation, (2) inflation control through interest rate manipulation,(3 …) the persistence of inflation since World War II, (4) the Great Moderation under inflation targeting, (5) real rate …