strength of the bank lending channel, recent evidence shows that bank-specific characteristics can have a large impact on the …

, however, that long run and short run relationships should exist between commodity prices, consumer prices and money and that … the influence of commodity prices on consumer prices occurs through a money-driven overshooting of commodity prices being … relationships, with both commodity and consumer prices proportional to the money supply in the long run, commodity prices initially …

This paper investigates whether the quantity theory of money is still alive. We demonstrate three insights. First, for … countries with low inflation, the raw relationship between average inflation and the growth rate of money is tenuous at best …. Second, the fit markedly improves, when correcting for variation in output growth and the opportunity cost of money, using …