The existence of a stable money demand function is critical when designing and implementing monetary policy. This is even more relevant in the current context of Argentina where the central bank establishes targets for monetary aggregates. In turn, it is also important that such function takes...

Recent cross-country empirical evidence indicates that the money-prices relationship depends on the average rate of inflation. This relationship is strong in economies with high inflation, but weakens under low inflation. Based on these findings, we study the dependence of the money-prices...