Money Growth and Inflation in the Euro Area: A Time-Frequency View
نویسندگان
چکیده
منابع مشابه
Inflation and inflation uncertainty in the Euro Area
This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the euro area, and investigates the linkages between them in a VAR framework, also allowing for the possible impact of the policy regime change associated with the start of EMU in 1999. The main findings are as follows. Steady-state inflation and inflation uncertainty have declined st...
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This paper studies the relationship between inflation, output, money and interest rates in the euro area, using data spanning 1980–2000. The P model is shown to have considerable empirical support. Thus, the “price gap” or, equivalently, the “real money gap” (the gap between current real balances and long-run equilibrium real balances), has substantial predictive power for future inflation. The...
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ژورنال
عنوان ژورنال: Oxford Bulletin of Economics and Statistics
سال: 2012
ISSN: 0305-9049
DOI: 10.1111/j.1468-0084.2011.00680.x