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The paper analyses the short-run impact of periods of strong monetary growth on inflation dynamics for 15 …
Persistent link: https://www.econbiz.de/10011604795
Currency debasement, defined as a loss of precious metal content (intrinsic value) of the circulating penny currencies over time, was a common feature in the monetary history of Europe, c. 1400–1900. Over the centuries the loss rate was sustained; between 1400 and 1900 A. D. the (south) German...
Persistent link: https://www.econbiz.de/10014521702
Over the last two centuries, the cross-spectral coherence between either narrow or broad money growth and inflation at … other countries, thus implying that the fraction of inflation’s long-run variation explained by long-run money growth has … correspondence with the inflationary outbursts associated with World War I and the Great Inflation–but not World War II …
Persistent link: https://www.econbiz.de/10011605073
Persistent link: https://www.econbiz.de/10014334700
policy. First, I consider whether ignoring money means returning to the conceptual framework that allowed the high inflation … of the 1970s. Second, I consider whether models of inflation determination with no role for money are incomplete, or … evidence for a long-run relationship between money growth and inflation. (Here I give particular attention to the implications …
Persistent link: https://www.econbiz.de/10011940718
The paper proposes two econometric models of inflation for Azerbaijan: one based on monthly data and eclectic, another … based on quarterly data and takes into account disequilibrium at the money market. Inflation regression based on monthly … data showed that consumer prices dynamics is explained by money growth (the more money, the higher the inflation), exchange …
Persistent link: https://www.econbiz.de/10011430889
. Evidence shows a high correlation between money growth and general price inflation for Japan from 1980 to 2022, supporting the … view that inflation is a monetary phenomenon. The paper argues that Japan's inflation has remained low since the 1990s …
Persistent link: https://www.econbiz.de/10015175221
positive correlation between the excess growth rate of the stock of money and the rate of inflation cannot be rejected. Yet … with very high inflation. …
Persistent link: https://www.econbiz.de/10010277728
Regarding inflation as being a monetary phenomenon in the long-run is a widely-held view in modern macro economics. We … analyse this topic by means of a P-star model. Based on the quantity theory of money, this approach explains inflation via a …Die Aussage, dass Inflation langfristig ein monetäres Phänomen ist, ist eine grundlegende Erkenntnis der Makroökonomie …
Persistent link: https://www.econbiz.de/10010295711
, however, is the incompleteness of its reform process: the boom-bust nature of its growth, persistently high inflation, delays …, to reduce inflation to single digits by the end of 2002. Since then, though, Turkey has experienced two financial crises … and redesigned its stabilization program to bring inflation down more gradually. This collection analyzes the nature of …
Persistent link: https://www.econbiz.de/10010513258