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Money Matters : Broad Divisia Money and the Recovery of Nominal GDP from the Covid-19 Recession

Bordo, Michael D.; Duca, John V. - 2023

The rise of inflation in 2021 and 2022 surprised many macroeconomists who ignored the earlier surge in money growth because past instability in the demand for simple-sum monetary aggregates had made these aggregates unreliable indicators. We find that the demand for more theoretically-based...

Persistent link: https://www.econbiz.de/10014346628