The goal of this paper is twofold. First, we wish to better explain the relationship between Sargent and Wallace's (1981) unpleasant monetarist arithmetic, the closely connected fiscal theory of the price level (FTPL), and the monetarist view of inflation. Second, we discuss how the recent...

This paper examines whether a significant long-term relationship exists between money, price level and GDP in the Bangladeshi economy. We have applied time-series econometric techniques to quarterly data for the Bangladesh economy for 1972: I to 2003: IV. An important feature of our analysis is...