The Dynamics of Money Demand and Prices.
The paper evaluates whether a monetary aggregate can serve as a useful predictor of inflation, using recent developments in the principle of cointegrated variables. M2 but not M1 is cointegrated with relevant price, transactions, and rate of return variables. However, deviations of M2 from its long-...
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| Формат: | Журнал |
| Мова: | English |
| Опубліковано: |
Washington, D.C. :
International Monetary Fund,
1990.
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| Серія: | IMF Working Papers; Working Paper ;
No. 1990/075 |
| Онлайн доступ: | Full text available on IMF |