منابع مشابه
Long Run Evidence on Money Growth and Inflation∗
Over the last two centuries, the cross-spectral coherence between either narrow or broad money growth and inflation at the frequency ω=0 has exhibited little variation–being, most of the time, close to one–in the U.S., the U.K., and several other countries, thus implying that the fraction of inflation’s long-run variation explained by long-run money growth has been very high and relatively stab...
متن کاملInflation and Relative Price Variability: Short-Run vs. Long-Run
This paper uses recent developments in measuring correlation to examine the relationship between inflation and relative price variability. The results suggest that the positive correlation holds not only in the short-run but also in the long-run. This finding has important implications for theoretical models that purport to explain this relationship: such models must incorporate features that g...
متن کاملThe Long-Run Costs of Moderate Inflation
L ong-run price stability is generally considered to be a primary goal of monetary policymakers in many countries. One reason policymakers care about inflation is that it can harm economic performance. Numerous studies of the impact of inflation on economic performance have focused on whether increases in inflation reduce economic growth in the long run (Barro, Fischer 1993, Bruno and Easterly,...
متن کاملLong-Run Policy Analysis and Long-Run Growth
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متن کاملDoes High Inflation Affect Growth in the Long and Short Run?
This paper investigates the relationship between inflation and output in the context of an economy facing persistent high inflation. By analyzing the case of Brazil, we find that inflation does not impact real output in the long run, but that in the short run there exists a negative effect from inflation on output. These results support Sidrauski’s (1967) superneutrality of money in the long ru...
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ژورنال
عنوان ژورنال: Journal of Monetary Economics
سال: 1998
ISSN: 0304-3932
DOI: 10.1016/s0304-3932(97)00063-9