World Inflation, World Money Supply and Monetary Control

Jaleel Ahmad
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Jaleel Ahmad: Concordia University

Chapter 5 in Floating Exchange Rates and World Inflation, 1984, pp 100-130 from Palgrave Macmillan

Abstract: Abstract Empirical analyses of world inflation have tended, by and large, to test for (a) correlation between monetary growth and the rate of inflation; and (b) the direction of causality between the two variables. However, neither the world money stock nor the world rate of inflation, as uniquely measurable constructs, are free of underlying ambiguities. The conceptual and measurement problems which they give rise to are the subject matter of this chapter. Then we go on to examine the empirical relationship between the growth of world money supply and the rate of world inflation. The later sections of the chapter discuss the problems of monetary control and their ability to cope with worldwide inflationary trends.

Keywords: Monetary Policy; Central Bank; Money Supply; International Reserve; Monetary Aggregate (search for similar items in EconPapers)
Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-17474-4_5

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DOI: 10.1007/978-1-349-17474-4_5

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