Excess Money Growth and Inflation Dynamics
Author | : Barbara Roffia |
Publisher | : |
Total Pages | : 52 |
Release | : 2007 |
ISBN-10 | : IND:30000126772627 |
ISBN-13 | : |
Rating | : 4/5 ( Downloads) |
Download or read book Excess Money Growth and Inflation Dynamics written by Barbara Roffia and published by . This book was released on 2007 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper analyses the shortrun impact of periods of strong monetary growth oninflation dynamics for 15 industrialised economies. We find that, over a 3-year horizon, the positive link between monetary aggregates and prices holds in approximately fifty percent ofthe cases. An econometric investigation suggests that a contemporaneous increase in the gap measures of the real stock price and real housing price and strong dynamics of loans to the private sector significantly increase the probability of turning an episode of excessive money growth into an inflationary out burst.