Is inflation always explained as a monetary phenomenon? In this study, the author presents empirical evidence regarding the relation of Money Growth and its effect on Inflation, for the specific case of Bolivia. The text describes the situation of the country analyzed in terms of monetary policy...

The financial crisis has triggered a new consensus among economists that it is necessary to include a banking sector in macroeconomic models. It is also necessary for the finance and banking literature to consider how best to incorporate systemic, macroeconomic feedbacks into its modelling of...

This paper uses a modified New Keynesian framework to consider the use of monetary information in making monetary policy decisions. We add monetary indicators derived from theoretical models to conventional economic variables in an instrument rule and estimate the equations using euroarea and UK...

This paper uses the P‑star model to explain inflation dynamics in Turkey. In P‑star models, money determines the price gap, which is postulated to measure the pressure on prices in an economy. This pressure emerges when output is above the potential, the interest rate is lower than the...