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Title: Inflation and money growth: evidence from a multi-country data-set
Author: Frain, John C.
Keywords: Inflation
Monetary theory
Quantitative economics
Issue Date: 2004
Publisher: Economic & Social Research Institute
Citation: Frain, John C. 'Inflation and money growth: evidence from a multi-country data-set'. - Economic & Social Review, Vol. 35, No. 3, Winter, 2004, pp. 251-266, Dublin: Economic & Social Research Institute
Abstract: Using a multi-country data set strong correlation are found between average growth rates of monetary aggregates and average inflation. The correlation remains strong when countries with higher average inflation rates are removed from the sample. These results confirm the strong correlation found in the traditional literature but contradict those in De Grauwe and Polan (2001) who, in a recent analysis, find that the strong link vanishes when higher inflation countries are excluded. Further analysis confirms the unit response and bears out the value of monetary aggregates as an input to the making of monetary policy.
Description: Paper read at The Eighteenth Annual Conference of the Irish Economic Association, Belfast 2004.
ISSN: 00129984
Appears in Collections:Economic and Social Review Archive: Complete Collection 1969-
The Economic and Social Review, Vol. 35, No. 3, Winter, 2004

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