case of prevailing inflation, there is a mismatch between the nominal interest rate that is a discounting factor for all …

This paper assesses the adjustment of inflation with financial dynamic fundamentals of money (financial depth), credit …-term adjustments in the ability of banks to transform money into credit do not matter in correcting inflation. This is most probably … between inflation and the fundamentals. (2) The error correction mechanism is stable in all specifications but in case of any …

This study shows that, in the United States, the effects of monetary policy on credit and housing markets have become … considerably stronger relative to the impact on GDP since the mid-1980s, while the effects on inflation have become weaker …. Macroeconomic stabilization through monetary policy may therefore have become associated with greater fluctuations in credit and …