inflation-free euro plays a crucial role for European economic and political integration. We conclude that monetary policy must … keep a very close eye on money supply if it wants to prevent consumer and/or asset price inflation. …

We consider what, if any, relationship there is between monetary aggregates and inflation, and whether there is any … paribus unitary relationship between inflation and money growth. Simulations of a New Keynesian model suggest that we should … allowance needed for the phase shift in the relationship between monetary growth rates and inflation. While financial innovation …