This paper investigates the predictive ability of money for future inflation in the Czech Republic, Hungary, Poland and … find in-sample evidence that money matters for future inflation at the policy horizons that central banks typically focus … on, but our pseudo out-of-sample forecasting exercise shows that money does not in general improve the inflation …

We examine the indicator property of the monetary indicator for inflation. Using a P*-model, Svensson shows …

This paper assesses the performance of monetary indicators in predicting euro area HICP inflation out-of-sample over …. The results suggest that monetary indicators are still useful indicators for inflation in the euro area, but that a … inflation. …

We develop a time-varying transition probabilities Markov Switching model in which inflation is characterised by two … regimes (high and low inflation). Using Bayesian techniques, we apply the model to the euro area, Germany, the US, the UK and … switches between inflation regimes. Thus money growth provides an important early warning indicator for risks to price …

-specific measures, particularly since the start of EMU, and is useful to predict country-specific inflation. However, it generally does … not encompass country-specific money overhang measures as predictors of inflation. Hence, aggregate money overhang is an …