Arbeitspapier
Does money growth tell us anything about inflation?
Economists and central bankers no longer consider monetary aggregates relevant for inflation forecasts. We explain this neglect by advancing and testing the hypothesis that monetary aggregates are only relevant for inflation in unsettled monetary and inflationary conditions. When inflation is basically stable around the central bank target (1.9 percent), as it has been in most of the last two decades, there is no apparent relationship between monetary aggregates and inflation. This is not surprising: there is not much to be explained about a constant.
- Language
-
Englisch
- Bibliographic citation
-
Series: Bruegel Working Paper ; No. 11/2021
- Classification
-
Wirtschaft
- Event
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Geistige Schöpfung
- (who)
-
Papadia, Francesco
Cadamuro, Leonardo
- Event
-
Veröffentlichung
- (who)
-
Bruegel
- (where)
-
Brussels
- (when)
-
2021
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Papadia, Francesco
- Cadamuro, Leonardo
- Bruegel
Time of origin
- 2021
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