Gerlach-Kristen, Petra - In: Swiss Journal of Economics and Statistics 143 (2007) 4, pp. 425-448
using money growth targets until 1999. Since 2000, when a new policy framework was introduced that focuses on an inflation … forecast, money growth has been used as an indicator variable. Given the continued reliance on monetary aggregates, the … question arises how useful money growth is for explaining future price developments. Using Swiss data spanning 1979 to 2005 …