Gottschalk, Jan; Martínez Rico, Felipe; Van Zandweghe, … - 2000
This paper attempts to evaluate the information content of money for the forecast of inflation, output, investment and … their forecast performance. The evaluation employs Granger-causality tests, stability tests and historical out …-of-sample forecasts. On balance the information content of money appears to be rather limited. An improvement of the forecast is confined …