Money and inflation: Consequences of the recent monetary policy

Makram El-Shagi and Sebastian Giesen

Journal of Policy Modeling, 2013, vol. 35, issue 4, 520-537

Abstract: We use a multivariate state space framework to analyze the short run impact of money on prices in the United States. The key contribution of this approach is that it allows to identify the impact of money growth on inflation without having to model money demand explicitly.

Keywords: Policy simulation; Velocity; Multivariate state space model; Exit strategies (search for similar items in EconPapers)
JEL-codes: C32 E31 E52 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jpolmo:v:35:y:2013:i:4:p:520-537

DOI: 10.1016/j.jpolmod.2013.03.014

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