This paper is an empirical study of the links between monetary variables and inflation based on Cagan`s equation and … differenced model overcomes Evans` critique of this test and that chronic inflation is essentially a monetary phenomenon caused by …

This paper is an empirical study of the links between monetary variables and inflation based on Cagan’s equation and … differenced model overcomes Evans’ critique of this test and that chronic inflation is essentially a monetary phenomenon caused by …

money growth and inflation appears to be nonlinear, as our estimation results identify multiple inflation regimes displaying … relationship between money growth and inflation in a Bayesian Markov Switching framework for a set of four countries, the US, the … UK, the Euro area and Japan, over an estimation period spanning from 1960 to 2012. We find that the relationship between …