predicting euro area inflation. Excess liquidity is measured as the difference between the actual money stock and its fundamental … inflation, if the forecasting equations are based on measures of excess liquidity. …

This paper examines the forecasting performance of a broad monetary aggregate (M3) in predicting euro area inflation … even in the period of the financial and economic crisis. Monetary indicators are useful to predict inflation at the longer … money and inflation, central banks should implement exit strategies from the current policy path, as soon as the financial …

countryspecific 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 … ; money overhang ; inflation forecast …

not separable in consumption and real balances, and trend inflation. An empirical study of U.S. data revealed that there … trend inflation. A further decline in the interest-elasticity of the demand for money was observed in the 1980s due to the … welfare cost of inflation that subsequently explains the rise in monetary neutrality observed in the data …

separable in consumption and real balances, and trend inflation. An empirical study of U.S. data revealed that there was a … inflation. A further decline in the interest-elasticity of the demand for money was observed in the 1980s due to the changing … cost of inflation that subsequently explains the rise in monetary neutrality observed in the data …