The Quantity Theory of Money claims to provide one of the few long-run guides to economic policy by providing specific numbers to characterise the correlation between money growth and inflation. Acceptance of the Quantity Theory has been greatly helped by the claim, propounded most effectively...

In its response to the economic and financial crises of 2008, the sovereign debt and euro crisis of 2010-2015, and the COVID-19 pandemic of 2020-2023, the European Central Bank (ECB) implemented an unconventional monetary policy aimed at providing liquidity for more than a decade, through a...

This study used panel data analysis to investigate the relationship between economic growth and some selected macroeconomic variables such as the money supply, inflation, foreign direct investment (FDI), and government spending. The study used Fixed Effects (FE), Random Effects (RE), and...

This study aimed to evaluate the conditional effect of exchange rate volatility on stock prices and returns in the emerging markets of BRICS nations. Using daily data from 1 January 2000 to 30 December 2023, wavelet and quantile analysis were conducted. The Markov-regime model was estimated for...

This note provides a conceptual framework to organize discussions of the appropriateness of the monetary policy stance and presents tools that country teams can employ to measure, report, and evaluate the stance of monetary policy. The note focuses exclusively on aggregate demand...

In this article I have analysed the long-term relationship between US M2 money supply and the price of gold per troy ounce using Engle-Granger cointegration. The analysis shows the existence of long-term price dependency of gold in relation to US M2 money supply. M2 was used in two variants,...

A strong monetary policy is critical to the overall health of an economy. Again, funding availability for firms is crucial and acts as a spur for well-designed monetary policy. The implications are far-reaching and have an impact on government revenue collection, which helps to enhance social...

In this paper, we compare the dynamics of the growth rates of the original Divisia monetary aggregates, the credit card-augmented Divisia monetary aggregates, and the credit card-augmented Divisia inside monetary aggregates. This analysis is based on the methods of recurrence plots, recurrence...

Monetary targeting served as a useful tool for conducting monetary policy until 1980s, but the instability in the relationship between money and nominal income led to its abandonment by most economies. One way of measuring this relationship is money velocity, defined as the ratio of nominal...

Inflation has recently become a significant obstacle to the Ethiopian government's efforts to achieve economic progress. Consequently, there is an increasing need to identify the sources of inflation in the country. This study, therefore, analyzed the drivers of inflation in Ethiopia using...

The purpose of this paper is to estimate the relationship among a primary set of economic variables, including two types of monetary aggregates: simple sum M2 and credit-card-augmented Divisia inside money services. The importance of that comparison has grown as the use of credit cards in...

The present study aims to empirically analyze the relationship between the growth in money supply and the long-term interest rates in India through the application of efficient market theory. The study uses quarterly data over a period from 2010 to 2023. The advantage of the efficient market...

Purpose - The study aims to determine the long and short-term causal relationships between the variables associated with the adjustment of monetary policy and the stock market in India in the presence of structural breaks. Design/methodology/approach - The study employed the autoregressive...

In this article, we use as case study the Spanish economy in the Early Modern period. We use recent time series data for the period 1492 - 1810. We consider the possibility that a linear cointegrated regression model with multiple structural changes would provide a good empirical description of...

With the development of network technology, electronic money as a payment and settlement tool based on the network has been developing at an unprecedented speed. Based on the background of e-commerce, this study uses the data from June 2012 to June 2022 to establish a vector autoregressive model...

This study empirically evaluates the effect of consumer confidence on consumer spending in Nigeria. Relatively little attention has been paid to the existence of a long-run relationship between consumer confidence and consumer spending in Nigeria, and this study aims to contribute to the...

Purpose - This study focuses on analyzing the relation between money supply, inflation and output in Vietnam and China. Design/methodology/approach - Using the error correction model and the vector autoregression model (ECM and VAR) and the canonical cointegration regression (CCR), the study...

This paper examines the validity of the endogenous money supply hypothesis in Türkiye from 2008 to 2020. The endogenous money hypothesis underlines the fact that a demand for bank credit leads to the creation of credit and deposit. Deposits are created once credit application is approved by...

This study investigates the factors influencing food inflation in Turkey, employing both endogenous and exogenous models and integrating major literature findings. Utilizing monthly data from February 2007 to November 2023, standardized for analysis, it explores the relationship between food...