selection approach, the study interacts money supply, interest rate, economic growth, and inflation rate, among themselves and … their lagged values using the Vector Auto-regressive (VAR) analytical technique. The Classical quantity theory of money, the … Cambridge Cash Balanced, the liquidity preference theory and the Monetarists as theoretical frameworks were explored to …

employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation …