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One of the most difficult aspects of formulating monetary policy is assessing the impact of policy actions on the public's dollar spending. Historically, the behavior of M2 has offered considerable information about the impact of monetary policy on dollar spending. It appears likely that M2 will...
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"Financial crisis" is sometimes regarded as synonymous with "economic crisis", but this is an oversimplification and risks missing the feedback loops between the financial and real economies. In this paper, the role of money is revisited in the context of distinguishing the real economy from the...
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, inwiefern die Beziehung zwischen Geldmenge und Inflation stabil ist, d.h. ob das Parameterregime als konstant unterstellt werden … kann. Schließlich illustrieren wir auf der Grundlage unserer Schätzungen die Konsequenzen der jüngsten Geldpolitik der … der Exit-Strategie. -- Umlaufsgeschwindigkeit ; multivariates Zustandsraummodell ; Inflation ; Geldmenge …
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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...
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