Homaifar, Ghassem A.; Zhang, Nan - In: Economia Internazionale / International Economics 61 (2008) 4, pp. 687-709
cointegrated with the growth rate of real GDP. There is an absence of any contemporaneous homogeneity between growth rate of money … current inflation and growth rate of money 18 months earlier. The error correction regression reveals that both M1 and M2 … permanent income and inflation rates predicated on the assumption that the velocity turn over of money is stable over time. Both …