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money and credit starting from a unit of monetary base. Crucially, however, at the very low frequencies the relative amounts … analyze. This finding questions the widespread notion that, since WWII, credit has become disconnected from broad money, and … suggests that, except for their greater productivity at creating broad money and credit out of base money, today's commercial …
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in the recent literature on financial crises: international capital movements and credit growth. Neither factor is …
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in the recent literature on financial crises: international capital movements and credit growth. Neither factor is …
Persistent link: https://www.econbiz.de/10012459848
We argue that measurement error in historical price data has led researchers to erroneously believe that there was little persistence of inflation during the 19th century. Using a statistical technique that accounts for these errors, we estimate the persistence of (a) US inflation and (b)...
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