Beck, Guenter W.; Wieland, Volker - In: Journal of Monetary Economics 55 (2008) Supplement 1, pp. 1-1
inflation while declaring monetary aggregates largely irrelevant. Critics, however, have argued that these models need to be … modified to account for observed money growth and inflation trends, and that monetary trends may serve as a useful cross … persistent errors in monetary policy and sustained trends in money growth and inflation. If interest-rate prescriptions derived …